The Quik Bunny is the mascot of Nestlé Quik (now known as Nesquik), a brand of chocolate-flavored milk mix by Nestlé. He appeared in the parade from 1988 to 1999, dressed as a bandleader.
In 1994, His right ear was deflated (Look at the photo).
In 1997, the same thing happened at Times Square, but this time his right ear was torn clean off by a lamppost due to the strong winds. The balloon didn't cause any injuries, unlike The Cat in the Hat that same year.
In 1998, this balloon wasn't seen due to heavy rain. The balloon however returned in 1999.
In 1999, his legs and drum were deflated mainly due to the fact the balloon wasn't designed for the buggies pulling it.