Helga felt like a deflated balloon after walking 10 steps. Bill was breathing like a deflated balloon.
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An addition to the ball showing game; The Brain minus the testicles, you do the same actions you would with your fist as the brain but you keep your actual testicles below your clenched fist, showing just a portion of your scrotum in which resembles a wrinkly deflated balloon.
-Dude is that your balls?!?!
-Naw man worse, its just my wrinkly ol' ballsack. The Deflated Balloon!
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To let out a lot of gas with a fart, relieving pressure in your gut or also to fart, making a noise similar to a rapidly deflating balloon.
Ah man I just love when I deflate the balloon, it always feels so good to deflate a bit.
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I just heard someone deflating the balloon, I don't want to go near them.