Air is the thinnest of matters. We may imagine that freedom is woven from the air. The air symbolizes life and limitless freedom as air cannot be controlled, caught, and organized (according to Nietzsche).
This work is created from beads - this medium refers to the infinite interweaving of threads. The latter traditionally symbolizes life creation.
Taking that into account, we may percieve balloon as an attempt to see the air or to visually grasp this matter.