This is sometimes called Dirac's belt trick. There is a Wikipedia article under the name the plate trick. As that article says, it demonstrates the theorem that "SU(2) (which double-covers SO(3)) is simply connected."
[![Dirac Belt Trick illustrated by George Francis.][1]][1]
Dirac Belt Trick illustrated by George Francis. From Carlo H. Séquin, "Torus Immersions and Transformations.," 2013.