Swirly
There are a few reports of swirlies in real life.  In some, the "victim" agreed to be part of the swirly. In other reports, the victim describes the swirly almost exactly like a swirly in fiction.  One Blair Academy wrestler talked about being given swirlies and other abuse from older teammates.  In others, the person giving the swirly is an adult or even a parent and not an older child.