It's essentially outtakes from Jackass: Number Two with a few new segments thrown in, but Paramount Pictures is using it as a test of a new web distribution model.
Editorial note: Whoa! You've found a super-old post here on BuzzFeed, from an earlier era of the site. It doesn't really represent where we are anymore, and may in fact be totally broken, but we're leaving it up as a part of our early history.