Step 5: Dismount
Somersault forward. The yo-yo will be in a bind, so move your throwhand forward along the inside of your body to undo it. You can also just do this trick as a repeater by popping immediately out of the formation and starting the process from step 1, but make sure that you pull all the string out of the gap or it'll snag on you. From there... I dunno! Do whatever. This is kind of a one-shot move, but it looks best at the end of a combo or mixed up with other hooks.
Want to see other hooks? Look up Anti-yo team member Ryosuke Iwasawa for the best laceration tricks on the planet.