Prediction: the inflated balloon will shrink and the uninflated one will swell, until both are of about the same size.
The reason for predicting this is the rule we already have: air moves from a region of high pressure to a region of low pressure. The inflated balloon holds air at a pressure higher than that in the limp balloon at the other end of the straw. As soon as the mouth is released, the straw becomes a path between them, so air should travel through it from the inflated balloon to the uninflated one.