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In double boiler over hot water, melt 2 cups of wafers. Cool about 5 mins.
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Inflate balloons to 4” diameter; knot. Holding balloons by knot, dip into melted product, tipping to cover balloon halfway up. Place balloon, knotted side up, on wax paper-lined baking sheet, holding balloon in place until it starts to set.
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Repeat with remaining balloons to make 8 cups. Place in freezer 5 mins.
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Melt remaining 2 cup of wafers and repeat dipping procedure; place in freezer for 10 mins.
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Snip hole in each balloon to deflate; carefully peel away from dessert cups.
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Refrigerate until needed. Use the same day. Fill cups with ice cream, sorbet, mousse or fresh fruit such as raspberries or strawberries into dessert cups.