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 item may be a reference to Winnie The Pooh, who once used a shiny red balloon to reach a bee hive high up in a tree, to get the honey inside.

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