My favorite parade spot is on the trail between the hub and Alice, across from the Matterhorn and almost directly in front of the newly redone bathrooms. There are cement benches and the kids can sit on the ground on the brick (right up to where the pavement starts).
I like this spot because nobody is sitting on the opposite side, and all the characters are giving their attention to just your side of the street!
I'd get there about 45 minutes before the parade starts.