Animal Crossing: New Horizons/Balloons

From time to time, presents attached to balloons will float above your island. These balloons can be popped with a slingshot or a net if you are close enough, which will drop the present. If the balloon is above flowers or a body of water, the present will be lost. These presents can include a variety of items, such as Bells, furniture, materials, and clothing. After popping over 300 balloons, a gold balloon is likely to spawn and shooting it will give you the recipe for the Golden Slingshot.