Often called a Pop bottle rocket, or something similar. This is something else entirely. This is a true multi-stage rocket powered by water and air that reaches up to 800 feet in altitude. I particularly like the Red, White, and Blue “exhaust”
I remember spending Saturday afternoons with the car compressor and a cork launching empty 2 liter bottles half full of water in my back yard. It was a process to see how much water would give us the greatest height. I never put a parachute on it though, this was 20 years ago, kids had stronger bodies back then, it’s a scientific fact.