I personally find this stitch very pretty, however, it eats up too much yarn, so if you would like to use it in a project make sure you have enough yardage to finish it.
For a slouchy hat in fingering weight I used 400 yards of Windy Valley Qiviut.
Here is a video of the stitch done in Lion Brand Collection Superwash Merino. I don't have a microphone, so you would have to listen to Tchaikovsky))).
If you need other instructions:
Yo, insert the hook in the corresponding stitch of the previous row, yo, pull up a loop. Turn your hook around the yo (twisting the hook 360 degrees around itself, catching the yo, so you will have 2 loops left on the hook), yo, pull through 2 loops.