Its a awesome idea for catching up if you get to the bar late....
Cert many bars use the wrist band to let the bartenders and bouncers know who has been cut off for the night....i think most go to orange as the cut off colour....they tear off the white and put on the orange......and if your seen drinking with an orange band on .You are outta there...
Other places use it instead of stamping your hand so you can walk out and come back in without having to pay the cover twice... Pretty common in big city bars and college bars... Can't say that I have been to either since I was 24 or so...
That is talent though that young man is displaying. Pouring one glass into another into another and so on until it end up in your mouth... Like a bottomless beer..