YoTricks.com

This trick is called the Elevator and it looks like this.
Now the Elevator is a pretty simple trick, all you need to do throw the yo-yo, get it on the string and then pull your hands apart. That will give the illusion that the yo-yo is climbing the string. Since it has that illusion it is a pretty cool trick to an outside audience because they are watching it and they are not quite sure how it is happening. You know that all you are doing is spreading your hands apart.

To make sure that the illusion works properly for you, you want to make sure that your bottom hand is in front of your top hand just a little bit so that as you are pulling it up it doesn’t bounce off the string like that. If it bounces off the string it really ruins the effect.

Again, just make sure that your bottom hand is just slightly above your other hand. Just pull your hands apart. When you get to the top just throw the yo-yo up a little bit, pull your finger out. Your yo-yo will come right back to you. And that is the elevator.