Turn vid speed down to 0,25 and watch the upper part of the pencil as soon as „all of a sudden“ then you can see that also the „cutted“ parts up and down are different ones while the whole pencil slides to the right into the hidden part in the middle.
Actually I think I got something similar. It's called SOFT COINS. You can push a pencil through the quarters. I showed my Grandfather today. But now that I'm thinking back on this trick, I like this one too and will likely order it.