A sample rate crunch with envelope follower and filters
This is a sample rate crunch where the sample rate can be modulated with an envelope follower to make the effect less static. The amount of envelope follower can be set to either positive or negative.
There are also filters before and after the sample rate converter where the filter frequencies are controlled by the sample rate.
When using the envelope follower, the effect can be made to sound a bit like ring modulation.
The nice looking knobs are Paule Amcas "Rusty knobs for Brett Lavallee", thanks.