Bertrand Benoit posted on the forums about a wonderful VRay balloon material he is offering for free. Looks incredibly real to me, and ORANGE!
Visit the VRay Balloon Material page on Bertrand’s Turbosquid store (this file is free).
After testing it, the file seems to be missing some bitmaps currently… but I’ve updated Bertrand about it and I’me sure he will fix this soon. My bad, make sure you download the additional BalloonTextures.zip file.
This is how the scene you get renders like, as is.
Visit the original post to see the material breakdown too – VRay Balloon, Free Material.
You can see the balloon in action in one of Bertrand’s Hans Wegner images he previously posted on the forums too.