The schoolgirl was flung 15ft through the air when she was catapulted out of the stomach-churning ride in front of her mother Kim.
But incredibly, despite fears she had broken her neck, she escaped with severe bruising.
Yasmin flew off the ride at the Hollowell Steam Rally and Heavy Horse Show in Northampton and slammed into a metal fence.
Mobile phone video footage taken by her mum shows the emergency button being pressed and the ride grinding to a halt while Kim can be heard asking 'Where's Yasmin?'
Kim told the local paper: "Yamsin had been on the ride with her little cousin Kya and the bar came up, as she went to lean to pull it back she came flying off.
"She spun into the air because it was going so fast, then you could hear this almighty thud. She had gone flying through the barrier.
"I was filming the ride and didn't notice until the ride stopped what had happened, we were laughing and joking at the time.
"But then I just saw my little girl in a heap over the other side. My six-year-old daughter Talisha who had been watching was in tears, she was petrified - she thought her sister was dead.
"When I ran across and Yasmin said she couldn't feel her legs I thought she was paralysed. she could have quite easily have died but she took the brunt of the force on her side rather then her head.
"The impact was sideways, but the paramedics said if she had gone through head first she probably wouldn't be here.
"It's been every mother's worst nightmare but I know she is very lucky and it could have been so much worse. Most people wouldn't survive a car crash at that speed, let alone being thrown through the air off a ride."
Mum-of-three Kim, from Sevenoaks, Kent, is now calling for safety checks to be made on the ride - which is believed to be run by a travelling family from Northampton.
She added:"My concern is if that particular fair ride goes elsewhere the it could happen again."
Yasmin, who is still bed-bound, and has been vomiting due to the impact her kidneys took in the accident, said: "It really hurts. I'm not going back to school for a week or more. I can't put any weight on one leg."
The Health and Safety Executive has been informed, which will help police with an investigation. No-one from the fairground was available for comment.
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