I was wondering how loose the definition of a parody is in terms of using a parody of a celebrity likeness in your work, and if this extends to fictional characters as well as real celebrities. For example, if I made a commercial video game character named "The Governator" and he resembled Arnold Schwarzenegger, would changing the name and portraying him as an exaggerated caricature of the original person constitute a parody? And for an example of a fictional character, if I were to have a character named Donald McRonald, and made him a scary evil clown, would that fall under a parody and fair use? Obviously anyone could still try to sue me over it, so I'm not asking for legal advice, just for clarification on what is protected under fair use and how a parody is defined, and your thoughts on those hypothetical examples and how the law would apply to them.
Thanks.

