Balloon Fest '86 was a 1986 event in Cleveland, Ohio, United States, in which the local chapter of 'United Way' set a world record by releasing almost 1.5 million balloons.

The event took place on the 27th of September 1986, and was intended to be a harmless fundraising publicity stunt, but the balloons drifted back pver the city, Lake Erie, and landed in the surrounding area, causing problems for traffic and a near by airport. The event also interfered with a United States Coast Gaurd search for two boaters who were later found drowned.

In consequence, the organisers and the city faced lawsuits seeking millions of dollars in damages, and cost overruns that put the event at a net loss.