Abstract: The present invention provides a balloon assembly including a balloon, and a balloon weight. The balloon weight has a plate having a perimeter, and an annular outer flange disposed on the plate. The outer flange has an outer surface. The invention also includes a cup rotatably connected to the plate. The cup has a bottom opposite the plate, and an annular side wall. The side wall encompasses the outer flange. The side wall also includes a first opening. An umbrella-shaped hook extends from the plate perimeter. A ribbon is wrapped around the outer surface of the outer flange, and extends through the first opening in the side wall. The ribbon has a length including a distal end. A peg is attached to the distal end of the ribbon. The peg is insertable through a portion of the balloon to secure the distal end of the ribbon to the balloon.