Parachute fireworks are a paper projectile that floats slowly to the ground, these are almost lit off during the daytime for kids as an activity to go and chase the parachutes! Parachute fireworks are shot out of a mortar tube or a cake with multiple parachutes in it. These are a truly unique and one of a kind product. Definition: A Paper Parachute that is shot out of a mortar tube or a multi-parachute effect item in a cake. Parachute Fireworks float slowly to the ground and are easily blown in the wind.