All the post above are right in explaining how to do it.

Without getting into too much detail, the wild thing started in the A class and too my knowledge it was an Aussie thing as well. we do try silly things over here and sometimes they just pay off.

Two things happen while doing the wild thing; Firstly as you lift a hull out of the water you reduce your hull drag by about 30% - 40%.

Secondly as the drag decrease and the boat accelerates the apparent wind moves forward and allows you to sail lower. The net result is a better VMG.

The wild thing will defiantly not be fast on all cats. Everything from sail profile and configuration to hull design and PWR (power to weight ratio) will have an effect on whether the wild thing will work for you.

I say just give it a go... go swimming.... try again. It'll soon be obvious if it's faster.