A balloon filled with nitrous oxide, or NOS (laughing gas). You can usually find balloon dealers outside parties, raves, music festivals or other such gatherings. As soon as people hear a dealer inflating a balloon they flock round them like sheep. Balloons are the second most popular drug in the UK (aside from weed). Also goes by the name of Hippy crack.
Dealer: You came to buy balloons bruv?
Client: Yea man (hands over cash)
Dealer: Calm G, this is 100% medical grade NOS. This shit'll make you trip. (Loudly inflates balloon)
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