Bungee jumping was invented by the people of Pentecost Island in the South Pacific, the difference is that when they do it they actually touch the ground:
https://www.youtube.com/watch?v=l0Mq6rCfYtUAccording to legend:
The origin of land diving is described in a legend of a woman who was dissatisfied with her husband, Tamalie (or some variation of the name).[6] It is sometimes claimed that the woman was upset that her husband was too vigorous regarding his sexual wants, so she ran away into the forest.[6] Her husband followed her, so she climbed a banyan tree.[6] Tamalie climbed after her, and so she tied lianas to her ankles and jumped and survived.[6] Her husband jumped after her, but did not tie lianas to himself, which caused him to plummet and die.[6] The men performed the original land diving so that they would not be tricked again.[7]
The land diving ritual is associated with the annual yam harvest.[6] It is performed annually in the months of April, May, or June.[8] A good dive helps ensure a bountiful yam harvest.[9]
The villagers believe land diving can enhance the health and strength of the divers. A successful dive can remove the illnesses and physical problems associated with the wet season.[9] Furthermore, land diving is considered as an expression of masculinity, as it demonstrates boldness that was associated with the bwahri or warrior.[9] Nevertheless, the men who do not choose to dive or back out of diving are not humiliated as cowards.[9]
http://en.wikipedia.org/wiki/Land_diving