Always like to see horror games for jams! The Tiny Tim song gave me a little chuckle, I think they used it in the movie Insidious as well! I'm not sure I understood the premise of the game exactly, I'm thinking that I was playing as Tomvolio popping the balloons? I liked the progression of going through the areas more than once with things getting creepier every time, reminded me of PT! I ended up getting the bad ending unfortunately and tried to play through it again but I think I encountered a bug because I couldn't play through a second time. Overall though it's a great start to a horror game, and my one main criticism is that the screen you play through is just a bit too small. I think making it nearly full screen with just the edges of the TV showing would help make it more immersive and creepy!
You can check out my gameplay video playthrough here for more in-depth feedback!