How to get this effect (innovative surf video)

hi, im starting to use premiere (plan to learn after effects too), have used mostly imovie before; the effect Im most interested in right now is used a lot in this video but look specially for this times:

3:05 to 3:08

I guess there is more than 1 effect going on …


via Video Editing Forums: Digital Director – Adobe Premiere, Premiere Elements, and After Effects