Think of it, chickens live lives defined by "flock members" and strangers who probably want to hurt them/kill them. But there is this large Not-Chicken who could have been part of their brooding, and if not, still provides food to them. The Not-Chicken is a super-status, very different member of the flock. Because if it wasn't a member of the flock, it would try to hurt and/or kill them.
As a young cockerel's fancy turns to pullet and hens with that rush of testosterone, he is also driven to compete with other males. If hens are high status, they may resist his advances. Best to approach all moving objects with a little love dance just in case it's a girl and might submit. If it doesn't submit, it's either a hen which he wants/needs/can't stop and he is the ROOSTER dad gum it! or it's another male he needs to challenge.
If the Not-Chicken doesn't respond appropriately and prove its Super Status (I'm the Boss of YOU and your whole flock, mister!) then the rooster "wins." And that's not good in a backyard flock.
I think it's adorable when any of my roos wing dance at me, but I stop the behavior immediately. They now just try the sneaky way to prove their dominance by bringing me little "presents" like a leaf, or a pebble or a small stick, while they're making that little "Come hither, my sweet pullet, have I got something for YOU!" call. I have to just move on and not accept his present, as I am not one of his hens.
But it sure is cute!