A girl at my work just got some batik patterned parachute pants (or harem pants, really), and she is pairing them with Converse high tops, and that is super cute.
When I google parachute pants, all these pants are paired with equally strong footwear. So combat boots or Timberlands, sneakers or platform sandals.
If I were trying to be more conservative, I might go with a pair of ankle cowboy boots, or dark strappy sandals.