Jeremy Bell is the creator of this brilliant device, that allows you quickly switch between two guitar signals. In this case, one position of the switch plays the regular guitar signal, and the other side plays a delayed version of the same guitar. You end up with a glitchy, stuttering effect similar to using a kill switch, or rapidly flicking your toggle switch, only a lot cooler.
The obvious idea is to put this into a pedal to give you more freedom. Jeremy mentions in the video he doesn’t think you could get the same sounds this way, but I think using a momentary switch, or spring loading a rocker switch(as suggested in the youtube comments) would get you pretty similar results. I’ll be surprised if some pedal builder doesn’t try to do something with this idea.