The Great Valentine’s Day Balloon Race by Adrienne Adams

Adrienne Adams (1906–2002) was an American children’s book illustrator. Published in 1980, The Great Valentine’s Day Balloon Race is one of at least five children’s picture books for which she also wrote the text.

Bonnie and Orson, two young rabbits, build a hot air balloon to enter in a St. Valentine’s Day balloon race

The formal script used for the title and also for initials is Domingo Script. It originated at Photo-Lettering in New York, probably in the late 1940s (type sample courtesy of Tobias Frere-Jones). To my knowledge, there is no digitization. You might like Filmotype York or Shelley Script. While the author’s name is in Baskerville Old Face, text is set in Monotype Baskerville.

You can flip through the whole book on the Internet Archive.