Time to blow some things up! What would happen if you put calcium carbide into coca cola? Of course, you already know the answer since only a video with things blowing up can get this popular.
The video shows a mixture of some calcium carbide stones added to coca cola inside a plastic bottle. The bottle is closed to let the pressure of the gases build up, and as soon as it gets above the structural integrity of the bottle (or the cap), Ka-Boom!
The water inside coke reacts with calcium carbide more than anything else,
CaC2 + H2O = CaO + C2H2
Of course, the CaO also reacts with water to form Ca(OH)2. So the Coke was just for adding more commercial value to the video.
It is to be noted that C2H2 is extremely flammable, so put a flame near this experiment and you can seriously hurt yourself!