The nozzle of an average balloon is too narrowly, the gift too big? No, as long as the gift can be squeezed to 12.5 cm it can be packed in a special balloon for the purpose. Gift wrapping balloons are usually 48 cm in diameter and have a nozzle-side 12.5 cm width when fully stretched to a special mold. That balloons are more durable than "ordinary" balloons and can withstand some weight, so they can also be used as pinata. Most effective in them is the huge plush toy, because everyone wonders how it got inside, and the answer is simple - it is possible to squeeze it enough to pass through the nozzle-end of this balloon.
Here's an example of stuffing balloons with baby clothes - I stuffed some clothes on the bottom, then covered them with balloons, and then hung the dress so that it covered the rest of the gift:
Of course, a balloon like this can be part of a larger figure, it all depends on one's imagination and desires.