You can see it coming - the wrist snap adding the extra spin.
It's my favorite shot to watch, especially when it's thrown slowly.
In the video, see Arriaga's picada put away Scotty.
So, what can you do? Obviously, get quickly forward to try to take it before it bounces out of reach. Timing and elevation are most important for the catch to be made.
Who does (did) it best? (the catch, not the throw)
Video: Arriaga picada