The skill is similar to the instep turn only now using the outside of your foot. This is a basic control skill allowing you to move the ball into space and turn away from your opponent.
Start by passing the ball into the spot so it comes back to your feet. As it bounces use the outside of your foot to move the ball to the side so you can turn and dribble through the three cones at the back. Now using your other foot pass the ball into the spot and repeat the drill going in the opposite direction. See how many times you can do this in a minute.