Complex sentence: Jiraiya laughs, figuring out what it is and while Naruto and Saukra wait for Jiraiya commenting on how late he is and someone from the bushes throws kunais at Naruto.
Split into simpler sentences: Jiraiya laughs, figuring out what it is and while Naruto and Saukra wait for Jiraiya, commenting on how late he is. Someone from the bushes throws kunais at Naruto.