That does not look like a paddle trick per se. It is a skill game. much like Balero (barrel on stick) or hoop/ring on stick
or Cup the Ball game
A simple to make version but difficult to do, using a ring and pointed stick can be seen at (this will download a small PDF file showing you how to make and use the toy). :
Yours is a version where the ring is placed in the well and then tossed to be caught on the tip. It looks to be one of the more difficult pieces.