This is a miniature version of the Lota Bowl, made in plastic.
Being a miniature version, the amount of water is a small trickle, (perhaps ideal to pour on to a spectator’s cupped palm), but you can repeat this effect many, many, many times, much more often than you could with the standard Lota Bowl.
The performer pours out water from the bottle. The bottle is inverted completely to show empty. A few seconds later, he inverts the bottle, and the water pours out again. This is repeated over and over, as often as you like.
If performing for a small audience, you could magically produce water for every member in your audience !