Baloo the Bear does have some games -- including one based on his pilot persona from Disney's 1990s cartoon TaleSpin. But the TaleSpin video game, developed by Capcom, was pretty hard no matter which platform you played it on. (Personally, I found the NES incarnation to be the hardest, and far less forgiving than Darkwing Duck.)
1994's The Jungle Book, published by Virgin Interactive, is an excellent game based on the original 1967 film of the same name. But Baloo is merely a supporting character there, as the player takes the role of Mowgli.
Baloo would benefit from a new game where he's the star, and I'd personally love to see one where we find out exactly how this bear went about getting his pilot's license. It could even be a direct prequel to TaleSpin, if Disney ever decided to remake that game. They seem to be into direct sequels when it comes to their IPs, so a prequel might be a fresh direction to head without feeling too unfamiliar!
Heck, you could even call it something like The Road from Jungle to TaleSpin. Perhaps it could be created as an action RPG game, where Baloo receives a letter summoning him from the jungle to Cape Suzette in order to help out a long-lost relative who's being harassed by Shere Khan and Don Karnage. Perhaps Baloo would lose Bagheera in a moment akin to Aeris' death in FF7?
Considering that Disney is already working with Square Enix on Kingdom Hearts, it would be a short leap to involve them in a new IP like this!