Sure, perhaps the Yo-Yo hasn’t been cool since the ’50s but there are still some people into it… and some have mad skilz (see, use the right lingo and it’s cool again). For some dope Yo-Yo action check out this video: http://www.hugi.is/hahradi/bigboxes.php?box_id=51208&f_id=901. The video isn’t short, but sit still for a little and you’ll see some pretty fancy handwork.
The video was filmed at the Japanese National Yo-Yo competition 2003. If you want more Yo-Yo info, here’s a good launch site.