Cheerful Doodle Round Character Smooth Peach Colored

Create a cheerful doodle of a round character with a smooth, light peach-colored body. The character should have wide, closed eyes and a big, open mouth showing happiness. It should have rosy cheeks and be waving enthusiastically with one arm raised. In its other hand, replace the original object with a playful balloon. Keep the overall style simple and cartoonish, ensuring the character exudes joy and positivity.