Yellow Balloon's major claim to fame was that the band's membership boasted a celebrity, actor Don Grady from the television series My Three Sons, which starred Fred MacMurray. The band at one time also included Daryl Dragon, who wasn't as famous at the time as he would be a few years down the road as the male half of the popular duo Captain & Tennille. In 1967 Yellow Balloon scored its first and only hit single, which was named after the group. The band released an eponymous album that same year through Canterbury Records. In addition to Grady and Dragon, who both played drums, its membership included lead singer Alex Valdez, keyboardist Frosty Green, bassist Don Braught, and guitarist Paul Canella.