Grandstander

Grandstander (パフォーマンス) is a mini-game which can be played as Roxas or Sora in Kingdom Hearts II, and by Roxas again in Kingdom Hearts 358/2 Days. Similar to the Rare Truffle and Mushroom #8, the point of the game is to keep the ball in the air by attacking it for as long as possible.

Sora's reward
To unlock the secret ending, Jiminy's Journal must be completed. Part of finishing Twilight Town's entry involves playing this mini-game. The Jiminy Objective is to complete it with 100 or more points.

Roxas's reward
If this mini-game is completed with a certain number of juggles, Roxas will earn various amounts of munny.

Kingdom Hearts 358/2 Days
Mission 37: Vacation has Roxas take part in Grandstander training. There is no actual reward, but doing fifty hits or more will grant access to Mission 49: Collect Hearts later in the game.

Strategy
Each hit knocks the balloon up slightly and each combo finisher sends it flying. Lock on and try to hit the balloon toward a corner. If Sora swings too early, he will likely lose his combo.

Advanced tactics
Equip a long weapon prior to doing this task. This increases Sora's range, thus minimizing the chances of missing. "Combo Plus" abilities are useful, but do not equip a finisher technique. If the technique takes too long to perform, a ball that is hit far away may hit the ground before Sora can approach it.

Another good tactic is to equip Fatal Crest or simply the Berserk Charge ability, lock on, then knock the ball into the air. Knock it high, cast Cure, then jump up and continually slap the ball. Eventually, Sora will reach the top of the map still mid-air attacking the ball and adding hits. This will continue until the MP gauge fully recharges. A good round of this can add over 100 hits. Another tactic is by spamming Thundaga to slow the ball's descent and gain bonus hits.

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