The Coney Island Mermaid Parade incorporates several playful elements, such as colorful costumes, oversized floats, and theatrical performances. Participants often dress as mermaids, sea creatures, or other ocean-themed characters, which adds a whimsical flair. The parade encourages creativity and self-expression, fostering a sense of community and fun among attendees. Dancers and entertainers enhance the atmosphere, making it a festive celebration of artistic freedom.