The object is to get the point guard (the player with the ball in this diagram) into the corner. I've shown a pass to the wing, but the pass can go to the post, or the point guard can drive to the wing spot, exchange the ball, and then go down to the corner. In this diagram, the player elects to misdirect, then cut to the basket, then go to the corner. Look for the ball every time a cut is made to the basket. The cutter can use either side of the post.

After the cutter goes through, the weak side guard (in the two-man game) moves toward the top of the key. This will make for an easier outlet pass and also put a player in position to help defensively if the ball is turned over.