plain newsprint (available at craft stores), torn into roughly 1-inch squares
scissors (decorative-edge optional)
paint
paintbrushes
Directions
Inflate the balloon. Coat the top half with decoupage glue using a foam brush. Press newspaper pieces on top, and then add another topcoat of glue. Continue until you have a bowl-like shape.
Cover the newspaper from step 1 using the same technique, but with a layer of newsprint pieces. Add a third layer of newspaper, and then a fourth of newsprint. Let dry overnight.
Pop the balloon, peel the latex from inside the bowl and discard. Cut the edge of the bowl with scissors.
Now paint away! You can keep it simple with a solid inside, a contrasting exterior and a bright edge, or go wild with a pattern.