This yoyo trick is called Bouncer. Its a 1A trick (Standard string tricks) that creates a cool "bouncing" effect.
I split this trick up into 10 steps.
1. Start with a breakaway into a trapeze.
2. Slack the string out of the yoyo and over your throwhand, and into the gap of the yoyo, This will make a bind around the yoyo's axle.
3. Hop the yoyo out of the bind forward, and turn your freehand (non yoyoing hand) forward.
4. Hop the yoyo onto the front string coming from your freehand.
5.cross your hands, and put the yoyo onto the oppisite string. uncross.
6. Hop the yoyo off the string and onto the string coming off of your throwhand (the yoyoing hand) middle finger.
7.Curl in your freehand pointer finger (It should look like the eifel tower trick).
Hop the yoyo off the string forward.
8. Bounce the yoyo back and forth under all the strings. Its a motion you really need to practice to get right, but kep at it, its a very cool effect once you get it.
9. Drop everything, The string will all unwind so dont worry about knots....
10. Catch the yoyo!
Its a very cool trick that I use in almost all my 1A (Standard string trick yoyoing) freestyles.