It’s designed by the Czech artist David Cerny. It was made in honor of the 2012 London Olympics. The sculpture exercises every day from 3 to 3:30 p.m.
David Černý (born 15 December 1967) is a Czech sculptor. His works can be seen in many locations in Prague.
Via : https://en.wikipedia
more on artist website: http://www.davidcerny.cz/starten.html