Which video game character was the first to get a Macy's Parade balloon?

The answer is: Sonic the Hedgehog

Sonic's parade history is a beautiful disaster. While Pac-Man had successfully walked the parade in 1982, Sonic's 1993 debut featured not one but two accidents. After smacking into a tree and losing helium from his arm and spike, he was blown into a lamppost that fell into the crowd and sent two people to the hospital.

In his initial Macy's run, 1994 was Sonic's only drama-free year. He made it through the whole parade without hitting a single thing. In 1995, he slammed into another tree and had to be pulled, and in 1996, the poor guy limped to the end with a deflated sock. By 1997, Sonic only made it one block before being yanked from the lineup. They finally retired the balloon after that.

SEGA tried again with a new Sonic balloon in 2011, running for three years to mark the hedgehog's 20th anniversary, and once more in 2021 for his 30th. The second balloon actually stayed intact - turns out they'd finally learned something about hedgehog aerodynamics. Pikachu, who joined the balloon lineup in 2001, probably took notes on what not to do.