This split-silk "drop" is more of a controlled roll. The base position is a "single coil" around the waist on one fabric. In a single coil, the tail is wrapped around the waist so that the tail is on the near side of the live end (i.e., the end under tension or pole) as opposed to the far side.
For the purposes of this tutorial, enter the single coil by hooking your same side (inside) knee, grab the tail with your opposite side (outside) hand, and bring the tail over the waist and around the back.