The Mummer's Parade is a peculiar Philly phenomenon. It traces back to mid-17th century roots, blending elements from Swedish, Finnish, Irish, English, German and other European heritages, as well as African-American heritage. The parade is related to the Mummers Play tradition from England, Ireland, Scotland and Wales. Revivals of this tradition are still celebrated annually in South Gloucestershire, England on Boxing Day and in parts of Ireland on St. Stephen's Day. You can read more about it at Wikipedia which is, frankly, where I got this information. I am never disappointed by the absurdity of it all.