We intrepid logologists love to switch around letters within words -- adjacent letters (UNITED UNTIED), separated letters (CONVERSATION CONSERVATION), and initial and terminal letters (LATCHES SATCHEL). In some words we can interchange each half to form new words. Dmitri Borgmann called these leapfrogging specimens "cyclic transpositions." I prefer the more playful "fortunate reversals."
Word Ways: Vol. 44
, Article 4.
Available at: http://digitalcommons.butler.edu/wordways/vol44/iss3/4