The legendary Mummers Parade -- the biggest New Year's Day event in Philadelphia -- just skewered Caitlyn Jenner.

The parade -- one of the oldest in America -- featured a Bruce Jenner lookalike in his Olympic glory with a Wheaties box in the background.  The scene transitions to a gnarly-looking Caitlyn, dancing to "Dude Looks Like a Lady" and "I'm Coming Out."

Incoming Philly Mayor Jim Kenney condemned the display, saying, "Our trans citizens do not deserve this type of satire/insult."

According to a local report, a member of the Finnegan Brigade was caught on video screaming, "f*** the gays."