So the water bath in that case is orange paint mixed with water. The drop that comes down is blue paint mixed with water. The blue drop goes into the water and due to it's surface tension holds together. The surface tension of the gold pulls the droplet back up and into the air (this is called a worthington jet). Then another blue water drop comes down and collides with the drop coming back up, causing the effect you see.
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Still pretty amazing, and some pretty cool images.
!ENGAGE 25
ENGAGEtokens.