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Switches hold items with the target. This move does not work if the target has Sticky Hold or Multitype, or is Giratina-O, or if either Pokemon is holding Mail. This move works even if the user has no item, but will fail if the user or target has had an item Knocked Off.
If a Pokemon with a Choice Band, Choice Scarf, or Choice Specs is Switcherooed by / uses Switcheroo on a Pokemon that does not have a Choice item itself, the Pokemon that has the Choice item after the Switcheroo will be free to use whatever move it wants on the next turn only if it went first. That Pokemon will be free to select whichever move it likes regardless of whether it was originally the Pokemon with the Choice item. The Pokemon that moved second will always be locked into whatever move it used on the turn it was Switcherooed if it is the one holding the Choice item after the Switcheroo. However, if both Pokemon are holding a Choice item, and either Pokemon uses Switcheroo, then both Pokemon will be locked in to whatever move they used on the turn of the Switcheroo(s).
For example, if Choice Scarf Linoone is facing Choice Scarf Bronzong, and Linoone uses Switcheroo while Bronzong uses Stealth Rock, Linoone will be stuck using Switcheroo the next turn, and Bronzong will be stuck using Stealth Rock and therefore have virtually no reason to stay in, meaning Linoone, if it decides to stay in, will have no choice but to attempt to Switcheroo the Choice Scarf onto the incoming Pokemon. To expound on this, if the Bronzong user switches in Swampert to the Switcheroo, Linoone would be free to use whatever it wants. But if it uses Switcheroo again and Swampert stays in to do whatever, then the next turn, Linoone will be forced to use Switcheroo, and not something like Reflect or U-turn.
Trick is a Psychic-type equivalent.