The Taupo Cliffhanger Swing is an alternative to bungee jumping. It involves being strapped into a harness on the Taupo Bungy platform; then once the release cord is pulled, you freefall before swinging in an 180º arc over the Waikato River at speeds up to 70km/h.
You have the option of either a solo or tandem swing and there are combo deals if you want to do both the bungee jump and Cliffhanger Swing.
Like most activities in Taupo, this is a cheaper alternative to similar swings that operate in Queenstown.