Nizzards
The Nizzards are described as being black birds that eat away at the Dike Trees which protect the kingdom. They are the equivalent of ravens, which often are an omen of loss.
Dike Trees
The trees protest the Kingdom of Binn from flooding. This perhaps symbolizes nature's role in keeping people safe. The fact that the Nizzards eat the roots is symbolizing the decay of the forest.
Patrol Cats
The patrol cats surround the Dike Trees and prevent the Nizzards from eating the Dike Trees. However, they tend to become very lazy and abuse their role when the King is sad. This is perhaps a reference to the human nature of being selfish and unhelpful in difficult situations.
Lord Droon
Lord Droon is an allegory for those that seek to oppress and change others. He tries to force his opinions of what a King should behave like by stealing the stilts, giving no consideration to how it would make the King feel.
Eric
Eric is an allegory for human conflict of emotions. He is a very grey individual in that he makes both poor decisions that harms others but also follows it up with actions that benefit the King. He represents what it means to learn from mistakes.