In the Christmas parade that Ralphie's family attends, various characters from the "Wizard of Oz" are dancing around. Despite this inclusion, the "Wizard of Oz" was not yet popular enough to have its characters in a Christmas parade. "A Christmas Story" is set in the 1940's, and the "Wizard of Oz" was released in 1939. However, the "Wizard of Oz" was initially a flop and did not become popular until the 1960's, when it began airing annually on television. The 1940's was much too early for the "Wizard of Oz" characters to appear in a Christmas parade.