According to the Cloud in a Bottle page:
This item can stack with the Blizzard in a Bottle, and Sandstorm in a Bottle, for a triple, or even quadruple jump.
There are, however, some slight differences for the Blizzard and Sandstorm.
Unlike the Cloud in a Bottle, the Blizzard in a Bottle possesses an 'air drag' double jump feature which works slightly similarly to a pair of Rocket Boots and/or Wings. The player can gain more hang time and control with their jump for a short period of time by holding down the jump button. However, when the double jump is exhausted and the player does not 'drag' their jump, the player cannot continue the 'air drag' as they descend. Blizzard in a Bottle can be found in Ice Chests, in the Ice Underground Underground Biome.
The Sandstorm in a Bottle is very similar to the Cloud in a Bottle, but instead of a cloud beneath your feet, a sand jet appears and the character spins as they ascend on that jet. Due to this, the Sandstorm in a Bottle allows for jumps that are nearly twice as high as the Cloud in a Bottle.
Furthermore, each of these can be made into its own distinct Cloud/Blizzard/Sandstorm in a Balloon. These three balloons can then be combined into the Bundle of Balloons which condenses your quadruple jump into a single item.