Etymology Genericized trademark. Most likely from Ilocano yóyo, or another Philippine cognate.
1
A toy consisting of a spheroidal or cylindrical spindle having a circular groove in which string is wound; it is used by holding the string in the fingers and reeling the spindle up and down by movements of the wrist.
Aeronautics, Aerospace, Aviation, Business, Engineering, Government, Military, Natural sciences, Physical sciences, Politics, War A dogfighting maneuver involving the attacker temporarily exchanging altitude for airspeed, or vice versa, in order to rapidly catch up with the defender or to prevent an overshoot.
5
Business, Manufacturing, Sewing, Textiles A cloth rosette formed by gathering the outside edge of a circle of fabric in toward the centre using a running stitch.
6
Informal A foolish, annoying or incompetent person.
It is hard to watch the management for very long and not conclude that the place is run by a bunch of yo-yos.
Now look at them yo-yos, that's the way you do it1985, Sting, Mark Knopfler, “Money for Nothing”, in Brothers in Arms, performed by Dire Straits:
2 more examples
Henry glanced past him at the few other customers currently in attendance. "Hey! Any of you yo-yos headed up Castle Hill?"1991, Stephen King, Needful Things:
When these yo-yos came into the courtroom with their ridiculous testimony... it was a terrible circus.1992 February 2, Mitzel, quoting James Kirkwood, “Clay Shaw, The Quean Network & That Kennedy Killing”, in Gay Community News, volume 19, number 28, page 12: