Ray Rice -- All Is Forgiven ... Surrounded by Fans at Kids Event

Ray Rice is back in the good graces of many Baltimore Ravens fans ... who flocked to him last night during a Christmas charity event.

Ray and Janay Rice went to a Toys for Tots drive organized by his ex-teammate Torrey Smith -- and no one shied away from Ray as he walked around the event. In fact, he and Janay posed for several pictures with people during his first public appearance since his suspension was overturned.

Organizers say this is the 3rd consecutive year that Rice has pitched in with the charity.

He told a reporter for WJZ ... "I just made a horrible mistake in my life but you know, if they truly believe in second chances - they would forgive me "

We've said it before -- comebacks happen all the time.