The first day we decided to go to Cannon Beach to spend the day. There was a parade (which was pretty much like every other parade that I've ever been to) in the morning and then we played on the beach in the afternoon.
The plan was to see the fireworks there but we didn't want to spend the entire day there. So instead we went back to the hotel and attempted to watch fireworks from downtown Portland. Unforatuntely that did not work because there were too many trees.