Reminds me of the tumbling T-handle. A small tool is spun up in one axis, and due to some interesting physics, ends up flipping over on another axis every few seconds.
It's about angular momentum and happens whenever the axis of rotation differs - even slightly - from the semi-major axis. Interaction with a fluid is not necessary.
You can demonstrate it at home with your smartphone (or, more canonically, a tennis racket), and see for yourself that the tumbling happens much too quickly to be explained by whatever force the air is imparting.