I learned in 1960 as waterbomb. I have see it called paper balloon, too. I remember seeing billed as a container for fireflies - with clear paper. There was a story about Japanese children putting flies in them so that their buzzing would cause the paper to make noise. When I was in 7th grade my homeroom teacher/science teacher boiled water in a container that I made out of my notebook paper. He filled it with water, put in on a ring stand, and lit a bunson burner under neath. Paper burns at 451 degrees Fahrenheit while water boils at 212 degrees Fahrenheit. There is a good margin between the burning point and the boiling point.
Mark