Roll out the paper clay in a little talcum powder until about 3mm thick. Use glasses to cut out circles and use a straw to make a hole in the center of each circle. Blow up the balloons about 1⁄3 of the way full and place them in small bowls or an egg carton. Drape each clay circle over a balloon and let dry for 24 hours. Remove the balloons and paint the insides of the circles using watercolors. Make a knot on a piece of yarn and drag it through the circle. Bunt at the end.