First of all, let me say I LOVE Disneyland. If I could go there everyday I would. Almost two million people have seen the video below. Is it real, or is it fake. After seeing it, I will tell you. If you don't want to know, only watch the first one.
Now, look at this version. When he gets the megaphone at the 1.00 mark, he holds it, not by the handle, as he did in the first video. The first version was a Disney filmed version, and the other was not. But it shows that it was done, more than once, and that is is completely staged. All of the performers were Disney employees, including the girlfriend. But it is magical!
In the Disney version, which is the very well produced one, he picks up the megaphone at 3.29 into it.