This video is an example of the classic Baking Soda and Vinegar reaction. What this actually is, is a base and acid reaction with baking soda as the base and vinegar as the acid. The Chemical equation for this reaction is:

CH₃COOH + NaHCO₃ -> H₂O + NaOCOCH₃ + CO₂

the bubbling you see is the escaping carbon dioxide gas. Enjoy the video!