This trick is called Boingy-Boingy. Just like Split the Atom, you do the same mount, the Split Bottom mount.
Instead of doing the underpasses like Split the Atom, you only do one underpass with the left hand. When you do this, the yo-yo sits between the two strings. As you can see the yo-yo has room to bounce.
You want to emphasize the bounce with your right hand by moving up and down. you can change the speed of the bounce by how fast you move your right hand up and down. Slow it down. Small bounces or big bounces.
This trick is really fun to do because it's really usual trick for the audience to see. To do the dismount, it's the same way as Split the Atom. You hop it over your left finger. That's Boingy-Boingy.