This video is from Krazy Kooks In The Desert 2005 er I mean Burningman. Anyway it appears to be some kind of contraption which is hung down from a pole by a hose. At the end of the hose is a set of jet burners. It looks like there is four burners, one up, one towards the camera, and one on either side. It seems like it is RC controlled as they shoot one side burner to swing it one way and then shoot the other side burner to swing it the other way. It doesn't seem big enough to house much fuel which is why I think the hose it is hung by is providing the fuel. It's basically a jet engine on a string swinging around.