Clarence the Clown, sometimes referred to as Laffo the Clown is a giant balloon from the Macy's Thanksgiving Day Parade.
History with the Macy's Parade
Laffo first brought Parade-viewers a bucket of laughs in the 1940 Parade, having been recycled from the previous year's Tin Man balloon. The balloon once again returned in 1941, now undergoing a name change to "Clarence the Clown". This year marked Clarence's final appearance in the Parade, as he was one of the many balloons to be donated to war efforts in the form of 650 pounds of rubber.
Despite his retirement, the balloon would make a cameo appearance in the 2016 Ghostbusters remake, appearing as one of the haunted Parade balloons alongside many other early Goodyear balloons.