Shiny Red Balloon

The Shiny Red Balloon is an accessory that increases the player's jump height by 100%, from 7 blocks (14 feet) to 14 blocks (28 feet). This effect does not stack. The Shiny Red Balloon is found in chests in copper, silver and gold buildings on Floating Islands. It can be sold for 54 silver. This item utilizes its maximum potential when used in conjunction with Cloud in a Bottle, and vice-versa, since the second jump is affected by the item as well, increasing the double jump height of Cloud in a Bottle from 3.5 blocks (7 feet) to 7 blocks (14 feet), for a total of 17.5 blocks (35 feet) of jump height.

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When used in conjunction with Cloud in a Bottle and Rocket Boots, it is possible to lift yourself to a sufficient height to kill yourself when you fall if you have not found a certain number of Heart Crystals (damage taken is 129 with the full Jungle Armor set, 149 with no armor). It would be wise (if this combination of items is used) to either carry a lucky horseshoe or a grappling hook to be able to negate fall damage. It is also worth noting that the Shiny Red Balloon decreases jump height in water by one block (2 feet).