Self-assembled structures in a viscoelastic liquid

About a year ago, Zak Stone introduced me to YouTube with this video titled amazing liquid. I wonder how much of this behavior is understood. There must be a lot of fantastic videos of mechanical phenomena on YouTube. Perhaps we can embed them in iMechanica, and comment on them. Teng Li has provided an instruction of how to embed videos. You can check out a few other interesting videos in iMechanica video channel.

Update on 25 March 2007. See Andre, of Biocurious, for some background of this video.