Ten years after the Macy's Thanksgiving Parade tradition started, the very first Disney character balloon to appear was none other than Mickey Mouse.
Mickey measured over 50 feet tall and was constructed by the Goodyear Rubber Company. Attendants dressed in adult Mickey and Minnie Mouse Halloween costumes guided the gigantic balloon through the streets of New York.
Vintage Disney Memorabilia Blog has the story: Link
Another photo from Flickr user William J. Crawford:
Photo: William J. Crawford [Flickr]
http://www.flickr.com/photos/briande/sets/72157594513406945/with/360166411/
What color were Mickey's shorts in "real life"? Were they gray or red? Since they were gray in the cartoons at the time, did they color them gray on the balloon and on memoribilia of the time, or red? And if they colored them red, did any Mickey fans of the time secretly go, "Man, this technology blows. We can't even see Mickey's shorts in the color the artists originally intended."?
And one more thing...what are those long-nosed Q-Bert aliens between Mickey and the guys-on-stilts? Those things are awesome!