Wave Swinger (#5)
The Wave Swinger premiered in Germany in 1972 as a park model designed by Zierer and built by Franz Schwartzkopf. The ride moves in an oscillating, wavelike motion as the top rises telescopically, tilting at its peak, flinging riders of young and old into the cool breeze at 30km/h (10 rpm). (Wikipedia)
See also this version of wave swinger.