To perform the yank and bank one must be having sex in a "doggy style" position with a woman that has a pony tail. Right before the moment of ecstasy the man yanks on the woman's pony tail and turns their two bodies to the left or right. This is a favorite move of pilots.
Pilot 1: I was in Chicago last night between flights and pulled the yank and bank on that super fly flight attendant.
Pilot 2: Man the yank and bank is so dope!