This game has 64 badges you can earn while you play, including rank badges at 10, 20, 30, 40, and 50, costume badges, and other in-game award badges. For more information, see these pages for costumes and power-ups.
Ranks in this game are earned by the number of balloons popped. Note that on the game results screen, the listing for balloons popped is your score for balloons popped. The score you get is equal to the number of balloons you popped divided by 2 and multiplied by 10 when playing on Easy or Medium. If you play Hard, then the Balloons Popped (score) is simply the number of balloons popped x 10
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Thanks to Esque for sending in the news!