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From Terraria Wiki
The Blizzard in a Balloon is an accessory that allows you to double jump and will also boost your jump. It is very similar to the Cloud in a Balloon, but instead of a cloud beneath your feet, a trail of snow will be produced instead. Due to this, the Blizzard in a Balloon allows for jumps that are a few blocks higher than the Cloud in a Balloon.
- This item can stack with the Cloud in a Balloon and the Sandstorm in a Balloon for a triple or even quadruple jump.
- This item cannot stack with Blizzard in a Bottle due to its effect already being applied by Blizzard in a Balloon.