Shiny Red Balloon

The Shiny Red Balloon is an accessory that increases the player's jump height by 33% and jump speed by 30%, increasing the height that the player can jump from 6 blocks (12 feet) to ~10½ blocks (21 feet), effectively a ~75% boost. However, it oddly reduces jump height by when underwater, from 8 blocks (16 feet) to ~7 blocks (14 feet). It can be found in Skyware Chests on Floating Islands, as well as in obtained from fishing in Sky Lakes.

The Shiny Red Balloon stacks with other jump-boosting accessories:


 * The Cloud in a Bottle's double-jump height is increased from 5 blocks (10 feet) to 9 blocks (18 feet), for a total jump height of 19½ blocks (39 feet).
 * The Blizzard in a Bottle's double-jump height is increased from 8 blocks (16 feet) to 14½ blocks (29 feet), for a total jump height of 25 blocks (50 feet).
 * The Sandstorm in a Bottle's double-jump height is increased from 14½ blocks (29 feet) to 26½ blocks (53 feet), for a total jump height of 37 blocks (74 feet).
 * The Fart in a Jar's double-jump height is increased from 10½ blocks (21 feet) to 18½ blocks (37 feet), for a total jump height of 29 blocks (58 feet).
 * The Tsunami in a Bottle's double-jump height is increased from 7 blocks (14 feet) to 12 blocks (24 feet), for a total jump height of 23½ blocks (47 feet).
 * With the Rocket/Spectre Boots, flight is accelerated, making the same flight time carry the player higher and/or farther.
 * The Frog Leg jump bonus stacks additively with the Shiny Red Balloon bonus, letting the first jump reach 16½ blocks (33 feet).
 * With wings, flight time is increased.

However, the Honey Balloon and Balloon Pufferfish do not stack with the Shiny Red Balloon; they all grant the same benefits.

Trivia

 * Sleeping in a bed causes the Shiny Red Balloon (and its variants) to appear as if it is floating horizontally.