When I rode a Harley with a carb I could shoot a bang and flames from the tailpipe by cutting the ignition out and then, after about a second, in again while rolling at speed. Yee haw.
That said, I never did it to be gratuitous. Either by myself on open road, or once in a blue moon on a tail gater.
In high school, I had a buddy who would cut his ignition while rolling by in his Mopar, then pump the gas a couple of times, and fire it back up, resulting in an impressive bang out the tailpipe. It was (and still is) a good way to blow a head gasket.