Today the balancing tag caught my eye when I spotted it on a post of a character balancing an object instead of themselves, and it occurred to me that there's a distinction between balancing one's self and balancing something else.
It turns out there's a tag for that (balancing_object, which I've just doubled)

Then I hit balancing_on_nose and realised that balancing_on_* is (where it features at all) being used as an inconsistent standard:
balancing_on_tail is the alias tag for tailstand^{et al} and so it would follow that balancing_on_* implies that the character themselves is what is being balanced.

And now for the rest of the current (sparsely populated) tags
balancing_on_breasts and balancing_on_hair look to be following this route, although I'm hesitant to dictate whether post #2162265 counts as balancing, just a stable stance, or with no proof of being grounded at all.
balancing_on_foot mostly follows, but there's post #28353 featuring a character balancing_object on their foot while lying in a stable position.^{this was previously tagged balancing balancing_on_foot}
But then balancing_on_nose's three examples are all balancing_object, discounting that one of those I would exclude from balancing entirely ^{IMO hanging from something is not balancing}

These are all barely-used tags, I'm mostly wanting to highlight them now to point out possible inconsistencies and encourage standardisation for the distinction, if there needs to be any.