ANSWER
Macy's Christmas Parade
In 1924 the first Macy's Christmas Parade was organized by Macy's employees. There were no giant balloons that year, they would not appear until 1927, but it did feature live animals from the Central Park Zoo.
Originally, the giant balloons were released at the end of the parade. The first year the balloons exploded almost immediately, as the helium quickly expanded with the change in altitude. In following years pressure release valves were added, allowing the giant balloons to sail away gracefully, and prizes were offered to anyone who found and returned them. It wasn't long before daring young airplane pilots attempted catching the balloons in midair. Clarence Chamberlain succeeded, but others were less successful. One pilot nearly crashed into Broadway while chasing a stray balloon. After a few close calls, parade organizers decided the practice of releasing the balloons wasn't such a good idea after all, and the short-lived tradition was ended.
WHO GOT IT RIGHT: JP Weigt, Andie J, Ryan Scannell, Christine Severen, Mark Collins, Bob Milligan, Marc Quinlivan, and Brian Bement.
