Blend 1 cup of flour and 2 cups of water in a bowl. Cut the newspaper into strips and blow up a balloon.
Place one newspaper strip into the flour mix and wipe any excess off with your fingers.
Place the strip on the balloon and smooth with your finger. Repeat adding strips in a criss cross pattern. Once the balloon is covered, allow the strips to dry before adding more layers. Add two more layers letting the newspaper dry between each layer.
Cut a cone shape out of the cardboard. It will make the points on the star, so make it small enough to attach to the balloon. Make six shapes. Use masking tape to connect the cone shape in the middle. Attach the cones with masking tape to the balloon.
Cover the entire object with three more layers of newspaper strips. Let each strip dry between applications. Cut strips of tissue paper and fringe the edges. Apply the flour glue to the non-fringed edge and attach to the balloon/cone structure. Cover the entire structure with strips. Add strips to the ends of the cones.
Let dry for up to 24 hours. Once dry, paint the piñata with bright colors. Cut a small whole to fill the piñata with candy and tape the whole shut.