YouTube is amazing, not because you can follow clips of news events about Balloon Boy (although you can) but because you can follow all of the parodies (who has time for this and how to they make them so fast!) Here are a few of my favs
Parody to 99 Red Balloon Song (warning: the letter to the parents at the end has a few choice words)
Parody of Balloon Boy AND I'm on a Boat (warning: a few swear words)
And just because I can - here's the original I'm on a boat song from SNL. This is the edited version (beeped out swears) but I've been rocking the unedited version in my car since the Cape Cod trip - it was a hit in South Carolina too! (you might have to watch a 30 second commercial but it's worth it!)
UPDATE: Just found one more Balloon Boy parody set to I'm on a Boat!
WARNING: This one has [Explicit] lyrics but is pretty true to the original On a Boat Song. Watch at your OWN RISK!