An unenthusiastic owl states the obvious: He has a balloon. But, as the monkey observes, it’s not just any balloon. It’s a “shiny red balloon,” and one that would perfectly match the monkey’s outfit as he walks to school. Hearing this, the owl realizes what a treasure his balloon is and refuses to trade it for any of the monkey’s proffered possessions—a teddy bear, a sunflower, even a robot. That is, until the monkey offers the owl an old, unwanted sock. A sock, observes the owl, with a star on it. A sock with a “perfectly shaped hole.” Yes, the owl decides, he will trade his balloon for the sock. Now that the owl mentions it, though, the monkey realizes his sock is awfully desirable. Perhaps he’d better keep it for himself! The animals’ impressive range of emotions are delightfully conveyed in the illustrations of this story about coveting, and seeing old objects with new eyes. (Ages 3-7)