Cool, cool, but not perfect. On a scale of 1 to 10 I would give this a 7.8, because I think 9 tiles is too much water. It goes into little holes and such, really annoying if you just want to play with them.
Also, you can't hide that recolored whoopie cushion from me! The empty balloon looks a bit odd, well actually, I made some alternative sprites for you:
View attachment 85911 Empty Balloon. Purchased at the party girl, indeed. Maybe a little less expensive, seeing it's a 1-time consumable? I would say 2 silver is fine.
View attachment 85912 Water Balloon - Crafted with an Empty Balloon at water (or a sink!). Can be thrown to simply inflict the Wet debuff for 15s.
View attachment 85910 Lava Balloon - Crafted with an Empty Balloon at lava (or an obsidian sink?). Can be thrown to inflict the On Fire! debuff for 10s.
View attachment 85909 Honey Balloon - Crafted with an Empty Balloon at honey (or a honey sink?). Can be thrown to inflict Honey for 20s.
They should have a splash effect, inflicting it on all enemies/players in a small radius. So- you could also use them on yourself, which is mainly what the honey balloon would be for. It seems a bit odd to have 3 functionally identical crafting recipes at 1 crafting station, so I made the different colors functional.
I'm still not sure about the water. Perhaps the water balloon should spread 1 tile, but that would be enough. Make sure it's still suitable for a water fight that doesn't flood your home. Also, you don't consume any liquid when liquid is used as a crafting station, so don't have it be unbalanced.
This is just an optional addition. You're free to use it (or not). Greetings.