In advance: Make cookies. Prepare and roll out cookie dough. Use top half of balloon insert to imprint shapes on dough; cut out with knife. Bake and cool cookies.

Make balloons. Use same-size insert to cut balloon shapes from white edible paper. Stamp using edible color and same-size stamp. Let dry.

Attach stick to back of cookie with melted candy; chill until firm. Ice cookie smooth. Immediately, position stamped balloon. Curl ribbon; tie around stick.