The wrestler applying the hold positions himself behind his opponent. He then wraps his/her arm around the opponent's neck, pressing the biceps against one side of the neck and the inner bone of the forearm against the other side. The neck is squeezed inside the arm very tightly. Additional pressure can be applied by grabbing the left shoulder with the right hand, or grabbing the biceps of the left arm near the elbow, then using the left hand to push the opponent's head towards the crook of the right elbow.
This move has been popularized by WWE Superstars "Rowdy" Roddy Piper and Dolph Ziggler, both of whom use this as their finishers.
A grounded variation of the sleeper hold, with body scissors applied, is called the rear naked choke in professional wrestling (though in mixed martial arts, the "rear naked choke" term is used instead of sleeper hold, and whether the body scissors application is present or not).