When first released this decoration can only be found randomly in the Harvest Mystery Crate. It was re-released from December 9-24, 2010 for 450 MC. It was re-released for a one day sale on October 11, 2011 for 360 MC. The description read "Get a birds-eye view of your island!". When clicked the hot air balloon raises up and down.
It cannot be sold, although if players do not want it on their island, they can simply pick it up with the Move Tool and drop it into storage.