Gale's right that "ride the waves" is a common shortcut for the figure, but
I
also like to get into a rhythmic chant:
Actives arch and the inactives under,
Inactives arch and the actives under,
Actives arch and the inactives under,
One more time, and dosi do...
(or "Ones arch and the Twos under" if that works for your crowd.
The name "Nantucket Sleigh Ride" refers to whaling. After the sailors harpooned
a whale, it often would swim off at great speed, pulling the small whaleboat
behind it.
David Millstone