This is the "Blue Ball Machine". It's a real old gif. YTMND seems to be the most recent host but it predates that for sure.

Some additional context: this was from the Something Awful forums and it was a collaborative effort to produce a looping but linked set of gifs. More info here, since I don't think those original forum posts exist anymore. https://knowyourmeme.com/memes/blue-ball-machine