I haven’t gotten any information about this clip aside from what is described in the video itself:
Whatever this object is, I’ll admit it’s likely a cluster of balloons like many viewers are suggesting already, though it will be hard to discern entirely until the better footage is released (said to have been made by a Discovery Channel film crew, as seen during the video above). “In my opinion this doesn’t appear to be a balloon; it’s another thing, I don’t know what this is,” the speaker tells us in broken English, who at the moment remains unidentified. Throughout the video, what resembles large plumes of flame appear near the center of the object. Also, its many protrusions moving like “arms” around it lends to my dubbing it “the sky squid.” What do you think this is?
UPDATE: I’m having a good time
by 
Critters! or possibly some form of Energyzoa:
http://tarrdaniel.freeweb.hu/documents/Transzhumanizmus/energyzoa.htm
Hey, heads up on the new Chris McC web projects… help ’em grow!
http://www.yourparanormalspace.com/
http://www.yourparanormalspace.com/forums/
http://wiki.yourparanormalspace.com/
odd. I want to say its a cluster of metallic balloons, but it’s moving about too much. Normally the clusters of balloons that I’ve seen always looks like they remain stationary (from the ground) but this objects seems to be revolving around a center.