What is that invisible bump in the air called that occurs after completing a 360 degree turn? Does that bump you feel after completing a level 360 degree turn in an airplane have a proper name? I've heard it called an "attaboy bump", but obviously thats not a proper name. 

My understanding is that the bump occurs when a properly executed level 360 turn overlaps the disturbed air caused by the same aircraft's flight path into the turn.
It's your aircraft's wake, as in wake turbulence.