If I understand these things correctly:
Centrifugal force exists from the point of view of the observer, like a guy standing next to me (or myself, for that matter) while I swing a yo-yo around in a circle. But from the reference point of a small firefly trapped inside of the yo-yo, who all the while is being thrown against the outside wall of the yo-yo (and becoming very dizzy), this is a "ficticious force."
This is what I gathered from Wikipedia
, so take it with a grain of salt. I'm just trying to sort this out for myself.