Honey Balloon

The Honey Balloon an accessory requiring a Shiny Red Balloon and a Honey Comb.

This accessory increases your jump height, and upon taking damage, releases a small swarm of angry bees. These bees will cause damage to enemies.

Trivia

 * This is the only combination using the Honey Comb that uses an accessory that is not triggered by damage (Shiny Red Balloon)

Bugs
It isn't craftable in 1.2.1.2 in pre-hard mode.

It does not appear in the crafting guide in 1.2.1.2 if you put the Honey Comb into the guide slot (hardmode).