Park at the Gateway Center or in the parking lot at the Shops at Long Wharf. Then grab a spot right on Thames, by Sephora, and next to the Newport History Museum. The parade comes down through Washington Square and turns onto Thames, you'll be right there so you'll see everything coming down the hill before it gets to you. Bring cash because people will be selling hats, beads, balloons, etc, and your little ones will likely want a souvenir :)