Happy Hippo is a novelty balloon in the Macy's Thanksgiving Day Parade.

Happy Hippo first appeared in 1940, and was retired in 1941. This version of the balloon was most likely donated to war efforts during World War II. A recreation debuted in 2001. This balloon was almost exactly like the previous balloon, but with a more modern design. This balloon retired in 2003, but then later returned in 2005, and then retired in 2006. This version of the balloon also appeared in the Macy's Hoilday Parade from 2001 to 2005.

A second recreation of the balloon returned in the 2013 parade. This version is different from the others, as it is purple instead of pink. It returned in 2015. It was later retired in 2016. It also returned to the Macy's Holiday Parade from 2013-2016.