Abstract: A balloon toy vehicle is disclosed which has full direction control, altitude control and a motorized release feature that permits an object to be lifted and dropped remotely. Fixed tandem reversible thruster motors are positioned approximately perpendicular to the gondola body of the vehicle and work in tandem to provide forward, reverse, left turn and right turn movements. A third thruster motor is positioned along the length of the gondola body facing downward to provide lift. In a preferred embodiment, the lift thruster motor, is positioned slightly angularly from a vertical longitudinal plane passing through the gondola body and is attached to the gondola body by a bracket. This motor arrangement gives the vehicle both lift and anti-spin stability. An adjustment feature is provided to set the gondola body in a horizontal plane. This accommodates any variations in the fixed balloon connection. The vehicle is preferably operated by wireless remote control.