Well, it has so much more into it but the idea is to turn and then kick the clutch with your feet on the gas and then counter steer and balance it with the throttle, here's a guy who does it
http://youtube.com/watch?v=fmv6HooIp1w , and another one
http://youtube.com/watch?v=j1ycU4iBAzY and here's a pro doing it
http://www.youtube.com/watch?v=DDj_4zMANOs
take care