Pour the glue into a bowl. Cut a piece of waxed paper for the ornaments to rest on while drying.
Cut about 2 yards [2 m] of yarn. Dip it in the glue and wrap it around the balloon or drape in in swirls around it. If you use up all the yarn and you don't think there is enough yarn, you can always cut another piece of cotton and add more -- it is not important if there is an extra end or two because they will stick together! When you like the way the ornament looks, and before it dries, shake glitter over it.
When everything is dry, it's time to assemble it! First, you'll need to shake the extra glitter off. This can, of course, be saved for a later project. Pop the balloon and pull it out of the ornament.
Decorate your egg -- attach a tiny bouquet of flowers on top, add ribbons maybe even hang another tiny ornament inside of it -- follow your imagination!