Wikipedia gives the full definition, but here is copied in part,
Crack the Whip is a simple outdoor children's game that involves physical coordination, and is usually played in small groups, either on grass or ice. One player, chosen as the "head" of the whip, runs (or skates) around in random directions, with subsequent players holding on to the hand of the previous player. The entire "tail" of the whip moves in those directions, but with much more force toward the end of the tail.
Is there a known name for this game in Spanish?
(Short of saying
el juego de "restallar el látigo")
