It has its ups and downs

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Possible Answers: YOYO.

Random information on the term “YOYO”:

The Chinese yo-yo is a toy from China consisting of two equally-sized discs connected with a long axle. An alternating lifting and dropping motion using two sticks, each held in one hand, keeps the yo-yo spinning on a string tied between the sticks. In modern times, it is used as a children’s toy and as a performance tool in circus events like juggling and sometimes in Chinese dance. It is possible to perform a large variety of tricks with the Chinese yo-yo which can be as easy as throwing the yo-yo up into the air or tossing it around the user’s back. It was found during the Ming dynasty; roughly 1386-1644.
Taken from Wikipedia