"Balloon Monkey" is part of Jeff Koons' "Celebration" series, a body of work started in the mid-1990s. There are five variations: Red, Magenta, Blue, Yellow, and Orange. Each piece is made from mirror-polished stainless steel with a transparent color coating, measuring 150 x 235 x 126 inches. These works have been exhibited at significant venues like the Newport Street Gallery in London and the Gagosian Gallery in New York.This series is known for its large-scale sculptures and paintings, often depicting simple objects associated with celebrations and childhood memories, such as party balloons, ribbons, and toys, made from mirror-polished stainless steel with transparent color coating.

This series includes five unique sculptures, each finished in a different vibrant color: blue, yellow, red, orange, and magenta. These sculptures continue Koons' fascination with transforming everyday objects into monumental artworks, combining technical precision with a pop culture aesthetic. The "Balloon Monkey" sculptures are made of mirror-polished stainless steel with a transparent color coating, a testament to Koons' mastery over industrial materials to achieve intricate visual effects and surface reflections.

The magenta version of "Balloon Monkey," created between 2006 and 2013, is particularly notable not only for its artistic value but also for its role in philanthropy. In June 2022, the magenta sculpture was auctioned by Christie’s to raise funds for humanitarian aid for Ukraine, specifically to support soldiers and civilians requiring prosthetics, medical treatment, and rehabilitation due to the impacts of war. The sculpture was donated by Ukrainian billionaire couple Victor and Olena Pinchuk, emphasizing the intersection of art, philanthropy, and global crises. The auction event highlighted the significant financial value of Koons' works, with his sculptures among some of the most expensive by a living artist ever sold at auction. Previously, Koons' "Rabbit" sculpture fetched over $91 million in 2019, setting a record at the time for the most expensive work sold by a living artist.

Koons' "Balloon Monkey" is not just a feat of artistic craftsmanship but also serves as a poignant symbol of joy, innocence, and resilience in the face of adversity. Its playful form, reminiscent of children's balloon animals, contrasts with the monumental scale and the industrial material, inviting viewers to reflect on themes of childhood, nostalgia, and the transience of life. Through such works, Koons challenges the boundaries between high art and popular culture, creating pieces that resonate with a broad spectrum of audiences while engaging with profound social and philosophical questions​ (Jeff Koons)​​ (euronews)​.