* Noun: This is the most common use. It refers to the event itself: "The homecoming game was a huge success."
* Adjective: It can describe something related to the event: "We wore our homecoming colors."
* Verb: Though less common, it can mean to return home: "The soldiers finally homecomed after years of fighting."
To determine the correct part of speech, you need to look at the context in which it's used.