HBO's horror series It: Welcome to Derry, the prequel series based on Stephen King's It universe, has officially introduced the shape-shifting entity's iconic red balloon in the narrative. Will Hanlon had a horrific brush with It while he was on a fishing trip with his father, where he also saw a floating red balloon, signalling that Pennywise's (Bill Skarsgård) arrival is near.In King's It universe, Pennywise's red balloon is an instantly chilling yet strangely fascinating motif that floats into view with a sinister warning. Long before the evil entity makes its appearance, the red balloon marks its dangerous presence. While on the surface it appears to be nothing more than an innocent party decoration, the red balloon has evolved into one of horror’s most recognizable emblems, carrying layers of meaning that go far beyond its bright colour.This seemingly harmless object carries a deadly warning in It: Welcome to Derry for Will and his friends.More on this in our story.It: Welcome to Derry- Exploring possible meanings behind Pennywise's red balloon View this post on Instagram Instagram PostRed balloon is a popular motif in children's TV shows and movies, most famously featured in M. Night Shyamalan’s The Sixth Sense. While this fascinating and vibrant object is often linked with hope and childlike innocence, King completely flips its meaning in his It universe, making it a messenger of dread and evil.Now that It: Welcome to Derry has officially featured a red balloon, with Will Hanlon seeing it on his fishing trip with his father, the prequel series is gearing up for Pennywise's first official appearance in the upcoming episodes. Before that, we look at some possible meanings behind his red balloon:A haunting signFor seasoned King's fans, Pennywise's red balloon is a haunting sign of the evil entity's nearing/impending presence. The motif's appearance in It: Welcome to Derry Episode 4 is interesting, as Skarsgård's Pennywise will debut in the show's upcoming episode.This makes the red balloon a motif of danger, signalling the evil entity's presence and its impending arrival. Unlike the popular meanings associated with the red balloon (that of hope), in King's It universe, it stands for danger and evil presence.An object to lure children View this post on Instagram Instagram PostWill Hanlon rightly deciphered Pennywise's working mechanism in It: Welcome to Derry Episode 4 after his brush with the entity on the fishing trip. Since it is known that Pennywise gains strength by feeding on children's fears, as their emotions are less complex than adults, Will suggests that his friends suppress their feelings of anxiety and fear, making them unfit prey for the evil entity.This theory suggests that Pennywise uses a red balloon to lure children into the sewers. A similar incident happens in the first It movie, where Pennywise lures Georgie Denbrough with a red balloon and later bites his right hand off his arm.Also Read: It—Welcome to Derry: Why is the Town of Derry cursed?A visual device that marks the death of innocenceLastly, King flips the meaning of the red balloon by making it Pennywise's sidekick. Throughout the It movies and It: Welcome to Derry, the red balloon stands as a haunting visual device that marks the death of innocence. Through the vibrant red balloon, the evil entity first lures the children and later corrupts their souls by feeding on their flesh.The red colour, which also stands for hope and fascination, in many narratives, becomes a symbol of danger, signalling the entity's presence. Additionally, the floating illusion of the balloon can be linked with Pennywise's victims, who all literally float inside his 'deadlights'.Now that It: Welcome to Derry has officially introduced Pennywise's red balloon in Episode 4, it's game on from the creepy clown's side. With Lily, Will, Ronnie and Rich already on the entity's radar, it remains to be seen how they will fight It in the upcoming episodes.It: Welcome to Derry releases weekly episodes every Sunday on HBO.For the latest scoops on your favorite TV shows and movies, follow SoapCentral.