Yes, this is very cool. Read about it here.
You can also watch Mario doing it during our last party: He is a pro!
Here is a secret of pizza tossing:
"In brief, if you toss a pizza dough one toss at a time -- that is, if you toss then catch -- your hands should move in a helical fashion, like they are moving along a spiral, a curved line laid along a cylinder," Associate Professor Friend said.
"If you are tossing the pizza continuously, not stopping to catch it and stop every time, then your hands should move in circles."