We all know how the air balloon works, a Pokemon holds it and is given temporary levitate until hit.
So how about something exclusive to Pixelmon?
I suggest the feature of if you hold the balloon in hand you instantly fly a single block in the air. Maybe even a little model for it as well. The concept of this is instead of having an item that disappears in just a single battle, allow it to have other usages.
*It can be used to fly above water sources.
*Fly above lava sources.
*Protects you from fall damage.
Overall I think its a fun little idea.