I believe the official term is "nasal aspirator", although that moniker doesn't add much to make the device appealing.
So it's nice to see someone has come up with a creative gizmo to help kids clear out their plugged-up ears, and that it doesn't involve an oil-derrick style contraption attached to their head.
Nose balloons provide a mechanism for kids to puff air through their eustachian tubes, which helps to keep the middle ear clear. I wish I had one of these in my 20s, when I had so much middle ear trouble that I ended up with a permanent tube installed via surgery.
At least kids in my day understood the concept of "hold your nose and blow."
Nose balloons for snot-headed kids, via BoingBoing