What I'm thinking of is usually not performed as a very deep bow as the torso doesn't really move far from the vertical. And when it's done, it's often performed in rapid succession, with kind of a facetious manner. The intended meaning is to pay homage, to say "I am in awe [of what you just did]." Does a specific word describing this motion exist?
Are you thinking of kowtowing, maybe? Traditionally, that involves kneeling and touching your forehead to the ground, but people sometimes use it more loosely (and facetiously).