Their plan is to follow the parade along the same route with their own floats, the Los Angeles Times reported. It will feature an octopus made of recycled plastic bags.
The 70-by-40-foot creature represents Wall Street's tentacles "that reach into your pocket to get your money and a tentacle to get your house," Mark Lipman said. The group is also preparing two copies of the Constitution, one headed "We the People" and the other "We the Corporations."
"This is the real Rose Parade, and the other is the Rose Charade," Pete Thottam told the Times.
The parade and the Rose Bowl football game are being held Jan. 2 this year because New Year's Day is a Sunday.
Occupy activists expect more than 1,000 people to participate in their events.
Tournament of Roses organizers anticipate an audience for their parade of about 700,000 people along the parade route and millions more watching on TV.
The Occupy group says it is working with local police and the Tournament of Roses to ensure all events go smoothly.
"Our goal is to put Occupy's best foot forward," Thottam said. "We recognize that this is a historic, iconic event geared toward middle America and the family."
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