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Done with a (double) card held by its diagonally opposite corners by the thumb and second fingertip, the change happens as the forefinger of the same hand pivots the card around on its diagonal axis. There seem to be two independent inventors for this color change: Paul David and Dan Garrett. David appears to have preceded Garrett.
Paul David reports: “To my knowledge, I invented the move in the early ’70s and shared it freely with many magicians[….] I did make videos in the mid ’90s of my card technique. The move was originally a card production [and] has a number of applications other than just a color change.”
Dan Garrett recounts: “I came up with a more-or-less original color-change on top of the deck while playing with [Balthazar] Fuentes’ ambitious card routine, but then I started playing with the idea of a one-handed color change. The time frame is sometime in the late 1970s. It took several months to get the move working enough to realize that what I wanted to do was possible; then from inception to refining and perfecting it took about nine months from start to finish. Other than Fuentes and the Steranko book [Steranko on Cards, 1960], with its section on the lateral palm] as inspiration, I came up with the OHS (One-Hand Swivel) Color Change entirely on my own.”
Garrett popularized the sleight in lectures, first recording it in his 1988 lecture notes, Closeup Connivery #2, p. 17. He later taught it on Close-Up Connivery, a video marketed in 1991, and contributed it to Trapdoor, No. 36, 1991, p. 641, where is appeared under Steve Beam's concise title “The Knuckle Busting Ultra Garrett Spinning One-Hand Lateral Palm Platform Card Transformation (with Triple Change Option)”. In the 1991 video, Garrett mentions that it was Fuentes who realized that spinning a double between your thumb and middle finger automatically places the cards into lateral palm position.