This flashy move might be tricky to execute,
but it certainly can be effective – and could net you a Submission of the Night bonus if you pull it off! From standing the best setups might be from a Collar & Elbow tie up, from a standing Fujiwara Armbar / Arm Lever, a standing Side Choke (Arm Triangle), and possibly a Half Nelson from behind.
On the ground your best options might be from a mounted Top Wrist Lock (V-Arm / Ude Garami / Americana), Side Choke, Telephone Armlock or again from a Half Nelson against a broken down opponent in par terre.