It's mesmerizing, no?
What you're seeing here is how the twin aperture blades work in the's brand-new dual-aperture camera.
They can open to let more light in, or close to let less light through. That way, they can create brighter pictures or ones with more of the scene in focus. (For more on how variable aperture cameras work, and just how rare they are in phones,.)
We clipped this animated GIF from JerryRigEverything's latest video, which you'll want to watch if you enjoy this stuff -- you'll see how both the aperture blades and optical image stabilizers are controlled by tiny electromagnets. Check it out: