How to Get This Effect?

I’m not even sure what this effect is called but you will know what I am talking about when you see the exaggerated behavior of the guitar strings in this video (Michael Lucarelli playing Malaguena):

How can I achieve this effect in either Premiere Pro or After Effects?

via Video Editing Forums: Digital Director – Adobe Premiere, Premiere Elements, and After Effects http://www.videoforums.co.uk/adobe-premiere-premiere-elements-after-effects/43351-how-get-effect.html