I'd never heard of this before. Apparently it is where holidaymakers to Spain (generally brits and, of course, mainly men), jump off balconies into pools or onto lower roofs.
I only came across this because I heard, today, that the grandson of a friend is in hospital in Spain with brain injury and multiple broken bones. When I tracked down what looks like his injury, I came across the word.
When doing stupid and dangerous things, most people live to grow up and learn that it was stupid and dangerous. Some don't! Sadly.