This is not a drone and it doesn’t look at all like a balloon. It does seem to be floating like one, though. It is not a video effect or a lens flare.
One of our experts weighs in, reflecting the group’s consensus: This thing bobs in the wind like a balloon. The glow seems to be a sun reflection. Apart from that, it’s kind of spooky. Could be a very thin, plastic weather balloon or similar, partially deflated and wrapping around itself. Hard to say whether the shape-shifting is anomalous or just a complex set of sun reflections from a crumpled object. With no source information available, it’s a crapshoot at best.