Access the app here, allow it access to your Facebook, choose your own character, and then it creates a parade using your friends' profile pictures. You can then take a photo of your parade and post it to Facebook. So far nearly 700,000 parades have been created.
It's nicely done, but clearly 'inspired' by the Twitter Parade that was created a couple of years ago. (IS Parade itself is closing on 29th April. According to the site, nearly 15m parades were created)