Someone who is such an ass, that it may be possible that they are not even human. Rather, they are a balloon filled with multiple other asses.
I don't hang out with John anymore, because he's such an ass balloon!
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A creative way to say bubble butt, Usually used by Looners or people who have a very different vocabulary
person 1: damn! emily has such a round big ass!
person 2: now thats what i call a balloon ass!
person 1: yeah! indeed!