Here's how we made them. We used craft paper that we had lying around, but you can use old wrapping paper, magazine pages, or newspaper. Or paint & color your own paper!
1. Start with a square piece of paper.2. Fold it in to a triangle.
3. Unfold it and then fold it in a triangle the other way.
4. Unfold it again and then fold it in half (into a rectangle).
5. Unfold the paper. It should be all creased like the picture below.
6. Fold the paper into the rectangle again.
7. Using the creases as a guide, fold left flap over so the paper becomes a triangle.
8. Repeat with the right side. (When you do it to the right side, too, you'll end up with a triangularly folded piece of paper that could stand on its own like a pyramid.)
9. Once you've got it, put your triangle down and get ready for the next step.
10. You should have two 'layers' of triangle. Fold the bottom edges of the first layer up. You're going to want to leave a small space between the left and right folds so the last step is easy.
11. Repeat on both 'layers' of triangle.
12. You should have before you a little diamond shaped piece of folded paper in front of you. It should look identical on both sides. Fold the outer flaps of the diamond in towards the middle of the diamond.
13. Repeat on the other side.
15. Repeat on the other side.
16. Your folded up balloon should have a little opening at the very bottom. Blow into it and Voila! You've got yourself a cute little balloon.