A friend told me about this effect he saw at a local school. He didn't recall the name of the mage, but this is his description:
Magician holds a small (about 12" X 8") "sign" in front of him, which has an arrow pointing, let's say, "left". He revolves the sign vertically to show an identical arrow on the other side, again pointing to his left. He continues this a few times with appropriate patter, then all of a sudden, when he turns the sign over, the arrow is pointing right. Flips to the other side, other arrow is still pointing left. A couple more flips, both arrows now pointing right. Then the arrows are pointing in all different directions.
Does anyone know this effect? I'm mostly a card guy and my knowledge of stage/parlor effects are a bit limited.
Is this in the literature?
Thanks.
Phil

The trick or effect is called 'High Sign' by Melbourne Christopher. Tannen Magic has sold it for umteen years. It is a yellow card about 12"x12" with an arrow on it.

There is close up version without the comedy patter put out by Royal Magic. I think it is called the 'Compass'. This is a very small octagon shape that is worked in the fingers.

It's also called the "Chinese Compass" (I have no idea why) and comes in a variety of forms.
I do about six different versions that I came up with.
In my Showtime column in the Linking Ring of September, 1992, March, 1997 and April of 1997, I came up with three different handlings and routines.
If anyone is interested, e-mail me and I'll gladly send you one of the routines (the Artesian Well).
cheers,
Peter Marucci

Thanks! Knew I could count on the Café members. Appreciate the prompt and informative replies.
Phil

You might also find it in some literature as "This way, that way". As has already been said, the effect sometimes uses a square prop, sometimes an octagon.