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Glad Parabomb is a variant of a Glad Bob-omb found on Vibe Island in the game, Super Princess Peach.
Glad Parabomb is just like a regular Glad Bob-omb, just that's it's a Bob-omb with a parachute only glad. Once it lands, it turns into a Glad Bob-omb.
According to the game's Glossary, it "Gets happy when it loses its parachute. Then it skips."