Pao跑 Ku 酷 - Cool Running in China: People running, jumping, tumbling, thru Beijing at top speed
Parkour is doing Jackie Chan stunts but not getting paid to do it. Simon Elegant of Time.com's China blog explains it this way:
Parkour, the sport of urban gymnastics invented in France is being rendered "pao"(跑) "ku"(酷) or cool running, which is a reasonable approximation of the sound plus a good dollop of meaning rendered in an neat fashion.
http://china.blogs.time.com/2008/11/03/cool-running-in-beijing/
