There were punters on stilts, protesters, marching bands and even Australian icon Olivia Newton-John, but in the end this was all Bart's show.

About 70,000 people lined the streets as the Melbourne Cup parade swept through the city to Federation Square on the eve of Tuesday's big race.

Clearing skies welcomed the Cup to Bourke Street around midday as jockeys, former Melbourne Cup champions and a colourful assortment of racing-themed entertainers joined in the celebrations.

But the biggest cheers and applause were reserved for veteran trainer Bart Cummings, the 81-year-old who has seen his popularity continue to rise while positioning three contenders in this year's Cup: the favourite Viewed, Roman Emperor and Allez Wonder.

He joked he may have written his autobiography a year too soon after releasing it a few weeks before landing a chance to win his 13th Melbourne Cup.

"They've been pestering me for 15 years to two decades to write it, so I got rid of them but it might have been too early," he told AAP on Monday.

"So, you never know. A second edition, maybe?"

Racing fans Sean Wighton and Nicole Jackella arrived from Port Macquarie in NSW hours before the parade with their two children.

They tipped Viewed to repeat last year's Cup triumph.

"He'd be hard to beat," Mr Wighton said.

"Bart seems to know what he's doing."

And even Melbourne's mayor, Robert Doyle, was talking about Cummings, telling reporters during the parade he thought he discovered the trainer's tip when he saw he had decided to ride in a car with Roman Emperor's name on it.

Newton-John said she didn't have a tip for the race since she loved all the horses.

But the singer took an interest in Allez Wonder when she was told it is being ridden by Michelle Payne, who is aiming to become the first female jockey to win the Cup.

Payne said it was a "dream come true" to ride in the Cup but she didn't see herself as any different to her male competitors.

"I don't go out there thinking it's the girl against the boys," she said. "I'm just another jockey doing my best."

About 50 protesters raised placards and shouted "ban jumps racing!" when Racing Minister Rob Hulls began speaking to a crowd at the end of the parade.

The group was quickly mocked by a dozen punters, however, who wanted to protest against the protesters.

One man in a jockey costume galloped over the top of his mates who were laying on the ground.

"They come every year so we thought we'd have a bit of fun with it," one anti-protest organiser said.