**Core Concept**
The phenomenon being described is related to the way our brain processes visual information from two eyes, particularly when there is a discrepancy between the images seen by each eye. This involves the integration of visual information from the two eyes to create a unified perception of the visual environment.

**Why the Correct Answer is Right**
When a small target is oscillated in front of a patient with binocular vision, the images seen by each eye are slightly different due to the slight horizontal separation between the two eyes. Normally, the brain should perceive the object moving in a straight line (to and fro path). However, if the object is small enough, the brain uses the disparity between the images seen by each eye to calculate the distance of the object. This disparity leads to the perception of the object moving in an elliptical orbit rather than a straight line. This phenomenon is due to the way the brain processes binocular disparity, which is crucial for depth perception.

**Why Each Wrong Option is Incorrect**
**Option A:** This option is not relevant to the phenomenon described in the question.
**Option B:** This option might be related to another visual phenomenon, but it does not describe the specific situation being asked.
**Option C:** This option is actually the correct answer, which is "Hering-Breuer illusion" or more commonly referred to as "Hering-Breuer phenomenon".

**Clinical Pearl / High-Yield Fact**
The Hering-Breuer phenomenon is a classic example of how binocular disparity affects our perception of the visual environment, and it is an important concept to understand in the field of ophthalmology and neurophysiology.

**Correct Answer: C. Hering-Breuer phenomenon.**