This snapshot from ebay was simply labeled the 1925 Hollywood Christmas Parade.
ebay
I can pick out Santa Claus (far right), but the parade seems to be in downtown Los Angeles (unlike the famous Hollywood Christmas Parade).
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below: Details of the above photos.
ebay
ebay
below: So what is this building under construction? Is it the Pacific Mutual Building?
In the detail below, I can make out 'new head office' and 'pacific'.
ebay
ebay
below: This small photo shows a corner of the building that is under construction in the above photos.
uncanny.net
A view of the same area found in the USC Digital Archive.
usc