Physics of Rocket

The rocket works by it being filled with a certain amount of water before being inserted into a launcher. It's secured by a pin going through the top of the cap. Once it's secure air is pumped to a certain amount of pressure.

 Once the pressure is set, the pin is pulled and released, which in result causes the rocket to be pushed out from the launcher, spraying out water and shooting it up from the launcher, as shown the diagram below.

I tried to take advantage of the laws of physics by making a parachute from a garbage bag, duct tape, string, and a key ring. 

I cut the garbage bag into a large circle with a median sized hole in the middle. Then I folded tape over eight equal sides of the circle and hole punched them. I tied equal lengths of string to each hole and tied them all to the key ring. 

 My idea for the parachute was for it to somehow eject and safely land the rocket, helping to protect the egg. The parachute itself was successful but for it to eject, the cap (which was suppose to hold the egg) had to come off for it to drop out. So I wasn't able to use it for lack of protecting the egg.