[Answered ]-How to Display the attribute value and not the ParentEvent Object in the Foreign key dropdown?

You need to add the __unicode__ attribute for the name to show up.

class ParentEvents(models.Model):
    name=models.CharField(max_length=70)

    def __unicode__(self):
        return u"%s" % self.name

The same for Event model as you would run into similar issues for the same.

Read more on __unicode__ here