From what i learned here in Australia, It's called 'FLY' because you catch a FLY ball as in baseball. It's an homage to the game seeing as so the Cuban's love the game so much.
It comes from the same as Pelotas y uno\dos\tres. Another move i've learned is called 'Double Play' and 'Triple Play'.
All three families of moves have clapping to signify catching a ball in baseball.