Easter is the Christian perversion of Ostara, the Pagan holiday that celebrates fertitily and new life. Ostara coincides with the Vernal Equinox, which hails the coming of Spring...another reason for the celebration of fertility and new life.
The rabbit is significant because it symbolizes fertility. Ever heard the term "fucking like rabbits"?
*Note from Karoline*
I'm in love with Morrigan for giving this as a reply to the question why are rabbits associated with Easter..