Apparently it will oscillate between being in orbit around earth to going back into a bouncy horseshoe orbit. Over and over throughout the millennia.
There are even more animations here, though the one in the article is great:
https://en.wikipedia.org/wiki/469219_Kamo%CA%BBoalewa
https://en.wikipedia.org/wiki/469219_Kamo%CA%BBoalewa#/media...
https://en.wikipedia.org/wiki/File:Asteroid2016HO3-SunEarthO...
https://en.wikipedia.org/wiki/File:Animation_of_2016_HO3_orb...
Somehow turns into this loop-de-loop "relative to the sun and earth":
https://en.wikipedia.org/wiki/File:Animation_of_2016_HO3_orb...
Is this essentially the origin of epicycle model of the planets? Do all planets look like that loop-de-loop graphic, but for whatever reason we never plot them that way, but for some reason this article is plotting the asteroid this way? (Just to confuse us?)
The tight loops are caused by orbital inclination: As the asteroid is not orbiting in the same plane as Earth, each orbit around the Sun it will travel slightly above us and slightly below, this causes the loop.
It doesn't make any sense in a 2-body orbit (those are all conic sections).
Yeung’s discovery, formally named J002E3, became the focus of an intense analysis with a unique result. The object was not an asteroid captured by Earth in a cosmic game of coincidence. This was a relic of humanity’s space race: an Apollo-era rocket that had been placed in orbit around the Sun — and then returned to Earth.
https://www.astronomy.com/space-exploration/how-a-long-gone-...
In a horseshoe orbit, when the small body approaches the medium body "from behind" (that is, the small body is moving faster than the medium body), the medium body tugs the small body forward. That is an effective forward thrust for the small body, which rises into a higher orbit and slows down as a result. That means the small body starts to fall behind, losing ground relative to the medium body.
After it loses enough ground, it approaches the medium body from the front (or, if you prefer, the medium body catches up to it from behind). Then the medium body's gravity tugs it backward, dropping it into a lower and faster orbit, and the cycle repeats.
The most exceptional example of this is two of Saturn's moons, Janus and Epimetheus, which share an orbit and periodically trade places in it as a result of these dynamics.