In the video, there are two cartoon characters, one with rainbow hair and the other with pink hair. The character with rainbow hair is holding a yellow balloon and is being playful with it. The character with pink hair is watching and reacting to the actions of the other character. The background is green, and there are no other objects or characters visible. The characters are both wearing clothes, and the rainbow-haired character is wearing a blue shirt and the pink-haired character is wearing a pink dress. The balloon is the only object being interacted with, and the characters' expressions change throughout the video.