A MoonPie drops at midnight during Mobile, Alabama's MoonPie Drop on New Year's Eve.
Mobile's celebration uses a giant illuminated replica of the MoonPie, the chocolate-coated marshmallow-and-graham snack made by Chattanooga Bakery. The city began its MoonPie-related New Year's tradition in 2008, tying the event to a regional food strongly associated with the American South.
The object is lifted and lowered as part of a downtown festival that includes live entertainment and fireworks. The event is an example of how communities adapt the general “ball drop” format to local identity: Mobile uses a snack rather than copying New York's crystal-lit sphere.
A MoonPie is not the same as a whoopie pie, although both are sandwich-style sweets. MoonPies were first made in Tennessee in 1917, while the Mobile event's oversized replica is a ceremonial prop. The question refers to the object dropped at the celebration, not the food's place of manufacture.