Hi there @PeezyKreezy

The glitch you performed is what's known as a Pattycake Hover. It's a result of ledgegrabbing then vaulting while in invincibility frames after being punched by any of the Pattycake Mafia. Besides looking cool, the only main purpose it serves is allowing you to collect an ice yarn which is floating on a hot air balloon early, which is nice in Bingo (and perhaps the unspoken All Collectibles).