The sport is bossaball, and it's sweeping the nation (what nation, we have no idea). On second thought, judging from this video, it's possibly Brazil; because there's about a zillion shots of female bikini dancing and relatively little bossaball footage. From the bossaball web site:

Bossaball combines elements of different sports on a pitch of trampolines and bouncy inflatables, offering great opportunities for marketing and corporate branding.

The rules:

• Grounding the ball on the inflatables is 1 point.
• Scoring on the trampolines is 3 points.
• Hitting the bossawall doesn't count; rally continues.
• Any body part can be used.
• Bossaball referees have a whistle, a microphone, various percussion instruments and a DJ set.

Hey, just like the refs in Pac-10 football!

Bossaball: All In The Air [Bossaball.com]