Abstract: An inflatable balloon system comprises an optional first container having an openable top and a collapsed balloon positioned within the first container. A compressed gas container having a gas release valve is provided, with the compressed gas container and release valve being sealed entirely within the collapsed balloon. The gas release valve faces the openable top. Upon opening of the top, one can actuate the gas release valve through the wall of the balloon, to release the compressed gas and to cause inflation of the balloon. The compressed gas container includes a quantity of water effective to prevent the gas from freezing ambient moisture upon expansion of the gas through the valve stem.