It teaches ballhandling and to keep your eyes on the ball.
Two players stand a few feet apart and at the same time do a regular figure eight drill. One person should end up with the ball in the right hand and the other should end up with the ball in the left hand. Then pass the ball to the other person while in that same posistion underhandly. Then keep doing the drill until you get tired.
At least 2.

The basketball drills are licensed under a Creative Commons License.
TLC: Pål Degerstrøm 2000-2008