balloon
US /bəˈluːn/
UK /bəˈluːn/

1.
a small, thin rubber bag that is inflated with air or gas until it is round or oval in shape, used as a toy or for decoration
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The child was holding a red balloon.
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We decorated the room with colorful balloons for the party.
2.
a large bag filled with heated air or gas to make it buoyant, able to float in the air with a basket for passengers or equipment suspended below
:
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They took a scenic ride in a hot-air balloon.
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The pilot prepared the hot-air balloon for takeoff.