OK, I don't fully understand what is going on here, but it's definitely really, really cool.
Stuntman Damian Walters has created something called a "hold and release bungee," and he films himself giving it a try here.
He jumps from a platform, falling most of the way to the ground while holding on to the bungee cord. At the last minute, he lets go, and lands totally calmly. Pretty awesome stuff.