It’s a laboratory equipment used to mix, blend, or agitate substances in a tube or flask by shaking them.
The blue board can perform 2D (in horizontal plane) or 3D shaking.
The video also shows how to shift from 2D mode (the yellow pin and the pink shaft are parallel to each other) to 3D one (not parallel).
A nut on the top of the yellow pin maintains the revolution joint between the yellow pin and the blue board and compresses the springs.