No, it´s not the Chinese, who invented this amusing toy. But they have copied it in all kinds of designs. The first Mood Meter - also known as Love Meter - was invented by Roberto Niederer in the 50s after a lot of trial and error.
Actually, it does not measure the mood or love. The warmth of the hand expands the air and sprays the coloured alcohol into the upper ball. Mouth-blown through pipes.