The Hot Air Balloon is a lightweight aircraft which can be used to carry one passenger for long distances over mountains and other rugged terrain. It’s not the fastest way to go but it’s probably among the safest as no hostile mob (at least not in the Overworld) can reach you while you’re up in the skies.
How to fly a hot air balloon?
Hot Air Balloons can be found spawning in the Nether. If you want one in the Overworld then spawn one by using a blaze spawn egg.
iOS / Android: Long press on the shadow of the vehicle and press Ride
Windows 10: Right-click on the shadow of the balloon to ride it
Once seated throw some eggs at the balloon. The hitbox of the balloon is a little bit off but just aim at the shadow and it will work.
You can control the direction of the balloon by hold a carrot on a stick in your hand. It will continue to ascend for 20-30 seconds and then start descending. If you want to ascend further then just throw another egg at the balloon.
The hot air balloons are perfect for exploring the world but they can also be used for other fun things such as a hot air balloon race.