Power-up Balloons (Otherwise known as a P-Balloon) were special items that appeared in Balloon Kid.
Collecting a Power-up Balloon will cause you to be invincible for a short period of time. They float up from the bottom of the stage occasionally. Their function is similar to the Invincibility Star in Nintendo Land: Balloon Trip Breeze.
Power-up Balloons are mostly what they sound like: a simple balloon with the letter P on it. The P takes up most of the balloon. In Balloon Fight GB, these items flash red and black.
- A similar-looking item appeared in Super Mario World, though that item turned Mario into a Balloon.