Step 1: Download Loader Software
and a PC side client for ps2link, if you are using windows, xlink is a good graphical interface.
You can obtain both easily here:
Step 2: Burn the ISO
Step 3: Connect your PC to the PS2 console
In the photograph I have my laptop connected to the PS2 with a crossover cable.
Step 4: Start your software
If everything worked fine you should see the following screen on your television screen, and the XLink status light should read "Online" and turn green.
Step 5: Run your software!
and sample code here:
setting up the compilers and toolchain for compiling your own ELF binaries will come soon!