The first Oswald the Lucky Rabbit cartoon, Trolley Troubles, produced by Walt Disney, is released by Universal Pictures.

Oswald the Lucky Rabbit (also known as Oswald the Rabbit or Oswald Rabbit) is a cartoon character created in 1927 by Walt Disney for Universal Pictures. He starred in several animated short films released to theaters from 1927 to 1938. Twenty-seven animated Oswald shorts were produced at the Walt Disney Studio.After the control of Oswald's character was taken in 1928, Walt created a new character similar in appearance to Oswald as a replacement; Mickey Mouse, who went on to become one of the most famous cartoon characters in the world, introducing many new characters, like his girlfriend Minnie Mouse and two best friends Donald Duck and Goofy, who themselves introduced new characters with them, like Scrooge McDuck and Max Goof.

In 2003, Buena Vista Games pitched a concept for an Oswald-themed video game to then-Disney President and CEO Bob Iger, who became committed to acquiring the rights to Oswald. In 2006, The Walt Disney Company acquired the trademark of Oswald (with NBCUniversal effectively trading Oswald for the services of Al Michaels as play-by-play announcer on NBC Sunday Night Football).

Oswald returned in Disney's 2010 video game, Epic Mickey. The game's metafiction plot parallels Oswald's real-world history, dealing with the character's feelings of abandonment by Disney, and envy towards Mickey Mouse. He has since appeared in Disney theme parks and comic books, as well as two follow-up games, Epic Mickey 2: The Power of Two and Epic Mickey: Power of Illusion. Oswald made his first appearance in an animated production in 85 years through his cameo appearance in the 2013 animated short Get a Horse!. He was the subject of the 2015 feature film Walt Before Mickey. Oswald also appears as a townsperson in Disney Infinity 2.0.