Flash Paper is chemically treated tissue paper. It comes to you in a pre-moistened condition for safety reasons. It should be allowed to air-dry for 24-48 hours. Once thouroughly dried, either one sheet or half of a sheet is rolled into a ball. Once lit, or contacted by a heated object, it will burn instantly. While the hand may feel hot for a moment, it will not burn. If the paper is not completely dry, you run the risk of a blister, burn or worse. If moist, the paper will burn very slowly.
Other precautions are ventillation systems, A/C, etc., that kick on without notice, wind conditions outside. These types of scenarios can cause the paper to fly from your hand risking self-injury or worse.
Extreme care should be taken when working with Flash Paper or other pyrotechic effects. This is not sold to minors.