This is a different version of Boing-E-Boing; It looks almost as good and is a lot easier to do.

Step 1

Start with a simple Split bottom mount as show to the left.

 

Step 2

Next, you are going to move your left hand PAST the red string, in the direction of the blue arrow. Your left hand should not touch the string, and you will be left with a "mutation" -- which means the string will be wrapped around the axle in some funky way.

Step 3

The green arrow indicates the mutation.

Next, move your left hand in the direction of the blue arrows. 

 

Step 4

Now, in a Mach-5-esq sort of way, you are going to move both hands in a sort of circle motion. You basically finish moving you left hand in the same circle as in step 3, but now you are also rotating your right hand. The right hand will stop at the blue X.

If your string gap is not wide enough, your yo-yo will probably catch at this step or in Step 5.

 

Step 5 

After your hands end up horizontal from Step 4, without stopping continue moving your left hand up. Your left hand should stop above your right hand.

 

Step 6

If you did Step 5 swiftly enough, the yo-yo will want to continue to travel forward due to the momentum you just gave it. You want the yo-yo to go forward [in the direction of the orange arrow]. To allow this to happen you must give your string formation some slack. Do this by slightly lowering your left hand.

 

Step 7

Now you want to "shoot the yo-yo back the other way." Do this by pulling your left hand up as indicated by the blue arrow. This will cause the yo-yo to go in the direction of the orange arrow.

After moving your left hand, your hand should be in the same position as it was at the beginning of Step 6.

 

Step 8

Because of the vertical tug you gave in Step 7 with your left hand, the yo-yo will have retracted into its initial position...except now it wants to go toward you (orange arrow) because of the momentum of Step 7. Let this happen by lowering your left hand again.

 

Step 9

Now, doing the same thing as in Step 7, make the yo-yo go in the opposite direction from which it came. So, just move your right hand up in the direction of the blue arrow so that the yo-yo automatically travels in the direction of the orange arrow. 

Now you can go to Step 6 and repeat the bouncing process as many times as you would like before dismounting.

Steps 6 through 9 must be repeated quickly.