Known as the Mood Yo. The colors of the yo-yos in this line were known as crayon colors.
This novelty yo-yo is self-explanatory if you had a mood ring from about the mid 1970s. With this version you pressed your thumb on the black circle for about ten or more seconds. The heat-sensitive material temporarily changed color to either blue (Yo Cool), green (So Cool), red (Lo Cool) , or no change (No Cool), indicating how "cool" you were at the moment.
Compare with version 1. While the yo-yos themselves are identical, this version came packaged in a clear plastic box with extra strings, and two replacement wooden axles. The name "Mood Yo" was also printed on the paper packaging, unlike version 1.