Footage is a commercial for Alberto VO5 hairspray. 

It's a classic compare-contrast ad: The holding power of VO5 is compared with the holding power of a generic brand. One woman sprays her hair with VO5, the other uses the generic brand. To see whose hair will hold its shape when tested, both women subject themselves to being splashed on by a passing jet skier. And as expected, VO5, which was used by the blonde woman, was the resounding winner.