Is there any paper or balloon simulation? I want to know which simulation and what setting i have to give to a balloon flying in air and a paper also so that it should look light weight and if pin it should fly with wind
A very simple way is to set the scene gravity to a positive value (by default is the usual -9.81), and set a simulation for you baloon...



then (eg) a rigid body, but also cloth works (you just inverted the "falling" direction, and/or acceleration):



then, starting the animation with ALTA your ballon will fly upwards...



You could also add an empty with wind effect, if strong enough will move your uplifting baloon along the wind direction...