yo-yo UK /ˈjəʊ.jəʊ/US /ˈjoʊ.joʊ/noun 6verb 1forms 3 noun6 •A toy consisting of a spheroidal or cylindrical spindle having a circular groove in which string is wound; it is used by holding the string in the fingers and reeling the spindle up and down by movements of the wrist.I bought a yo-yo from the toy store yesterday. •A volatile market that moves up and down. •(informal) Someone who vacillates. •(informal) A foolish, annoying or incompetent person.It is hard to watch the management for very long and not conclude that the place is run by a bunch of yo-yos. •A cloth rosette formed by gathering the outside edge of a circle of fabric in toward the centre using a running stitch. •A dogfighting maneuver involving the attacker temporarily exchanging altitude for airspeed, or vice versa, in order to rapidly catch up with the defender or to prevent an overshoot. verb1 •To vacillate; to move up and down.The yo-yoing stockmarket whizzed back up by around a quarter and then started to fall again. — 1990 formsyo-yoed · yo-yoing · yo-yos