This device was originally made by video artist Nam June Paik and video engineer Shuya Abe in the 1970’s. It’s some kind of an analog video processor, aka a thing to make cool images on ye old tv-set. Oh, I’m not even going to begin trying to explain all this. It’s way over my head.
If you want more info, check out the Create Digital Motion-blog where I found it, or the Vimeo page of Blair Neal who made the video.
The Wobbulator from blair neal on Vimeo.