Have the players break into two or more teams. The objective is to have each member of the team run the length of a course chosen carrying a raw egg on top of the water balloon. The first group to complete the course with egg intact wins. The egg will ride on the balloon easier if you make a slight indentation on each side of the balloon with your thumbs. The egg settles into the groove and travels quite well.
Smaller hands tend to squeeze the ballons in concentration of saving the eggs.
However, as one hurries to the finish line, the water starts to create waves and the egg may become airborne. The winners of this game will be judged on team work and skill only. Prepare a race track with defined start and finish lines. Have the racers brace themselves by wrapping their interior arms around each others shoulders. Give one of each pair three raw eggs.