Ernie and Bert have a balloon on a post of both their beds. Ernie thinks they'll last forever, but Bert explains that balloons don't last forever. Ernie doesn't want to see them deflate, so he insists that they let the balloons go; that way the last time they see them, they'll be "fat and floaty". They let them fly out the window, and as soon as they get back into bed, Ernie (breaking the promise he made Bert that he'd go to sleep if they let the balloons go) asks Bert if the balloons are too cold up in the sky and whether they'll end up in China. Frustrated, Bert throws a fit. Ernie asks him to keep it down.
