Blow up the balloon, and pinch the end of the straw. Does the balloon stay inflated? If not, use your finger to check for air leaks.
The most likely spot for a leak is where the balloon is attached to the straw. Try adding more tape for a better connection of balloon to straw. If this doesn’t stop the leak, remove all the tape and start over. Fold the rubber of the balloon tight to the straw and tape it starting before the end of the balloon and extending beyond the mouth. Keep the tape snug and smooth.
If the leak is through the rubber of the balloon, get a new balloon.