Some people asked about the set-up and it was fairly simple. I took this outside in the yard after dark so I didn't have to worry about making a mess with the water. I had a single bare flash to camera right slightly in front of the balloon. Prefocused the camera and then set it to manual focus. Popped the balloon with a black stick with a pin on the end and triggered the camera and off camera flash remotely with the cheap Yongnuo triggers. Surprisingly my timing was pretty good and I had about a 75% capture rate. I had originally planned on using a sound trigger I built to capture these but water balloons don't make a loud enough sound to trigger the flash.
Some people asked about the set-up and it was fairly simple. I took this outside in the yard after dark so I didn't have to worry about making a mess with the water. I had a single bare flash to camera right slightly in front of the balloon. Prefocused the camera and then set it to manual focus. Popped the balloon with a black stick with a pin on the end and triggered the camera and off camera flash remotely with the cheap Yongnuo triggers. Surprisingly my timing was pretty good and I had about a 75% capture rate. I had originally planned on using a sound trigger I built to capture these but water balloons don't make a loud enough sound to trigger the flash.
I think you can use an audio trigger if you use Magic Lantern, which might have made it easier.
Well, I thought I might get quite a few DNMC votes for voters thinking that the liquid was not the subject, but I was pleasantly surprised that it doesn't seem to be the case. Apparently it was just a lousy image ;-)