Paul Frank's Magic Balloon is a vertical scroller which takes players through "magical environments" including the deep blue sea, outer space and a candy planet.
The game is represents the brand's second venture into the App Store.
"Building from the momentum of our successful cupcake app launch, we wanted to entertain our fans with a completely new approach," said Saban Brands' chief creative officer, Ryan Heuser.
“The Magic Balloon game is the first mobile game that allows connectivity between our characters and fans," he added.
Elie Dekel, president of Saban Brands said: "Paul Frank has always made it a point to integrate within pop culture. This new mobile game showcases just another way that the brand continues to grow its presence on multiple platforms."
Saban acquired the rights to Paul Frank in 2010. The ‘lifestyle’ brand started in South California as an accessories and clothing label.
Paul Frank and Saban Brands are at booth 1864.