balloon flower vs wild flower

balloon flower and wild flower both are nouns.

Word	Noun	Adjective	Verb	Adverb
balloon flower	Yes	No	No	No
wild flower	Yes	No	No	No

As nouns, wild flower is a hypernym of balloon flower; that is, wild flower is a word with a broader meaning than balloon flower:

balloon flower: fragrant puffed-up white to reddish-pink flowers in long narrow clusters on erect stems; Arizona to New Mexico and Utah
wild flower: wild or uncultivated flowering plant

Other hypernyms of balloon flower include wildflower.

balloon flower (noun)	wild flower (noun)
fragrant puffed-up white to reddish-pink flowers in long narrow clusters on erect stems; Arizona to New Mexico and Utah	wild or uncultivated flowering plant