(intransitive) To fluctuate.
Origin of Seesaw
Probably a frequentative imitative of rhythmic back-and-forth, up-and-down or zigzaging motion, such as teeter-totter, zigzag, flip-flop, ping-pong, etc., under the umbrella term of reduplication; also likely influenced by the verbs see and saw of either present or past tense.
Reduplication of saw
From American Heritage Dictionary of the English Language, 5th Edition
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