This is a two handed trick although the name implies different! You hold the lighter in you dominant hand with your thumb and index finger. The body is facing up and the hinge is to the inside of your hand. Now snap your wrist backwards to open the lighter and then quickly shut it again with another snap (this is just for effect). Do this once or twice for effect. On the second or third time instead of snapping it shut hit the flint on the heel of your non-dominant hand to ignite. Then simply retract the lit lighter for presentation, and close with a quick snap.

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ive just smashed my hand trying the ignite lol

great effect!