“Bozo is my hero,” David Arquette said on a chilly Sunday morning, as he spray painted a Frisbee-sized red circle on a warehouse brick wall in the Bushwick section of Brooklyn. “We want to let that clown out.”

Dressed a bit clownish himself in a Bozo trucker cap, Mickey Mouse-pattern Vans and white jeans with a pair of pink tiger-stripe wrestling tights, Mr. Arquette, 50, who used to run with a graffiti-art crew in Los Angeles, was putting the finishing touches on a six-foot-tall rendition of Bozo the Clown.

Bozo is not only Mr. Arquette’s muse these days, but also his business. Earlier this year, Mr. Arquette, who is the youngest member of the Arquette acting clan, secured the rights to the character once billed as “the world’s most famous clown” from the estate of Larry Harmon, who popularized the character.

“We first have to help rehabilitate the image of a clown,” said Mr. Arquette, as he took a step back from his painting and pursed his lips with approval. “I want to help bring back kind clowns, and change the discourse. You know, help people understand that being silly is cool.”

‘Poltergeist.’ There was Stephen King and ‘It.’ That was a real problem. And then the Joker and Krusty the Clown.”

“Clowns,” he added, “are a reflection of society. And right now the scary clown is sort of where we are.”

He would love to bring Bozo back to TV. Various children’s television shows featuring the red-wigged clown ran for decades.

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