The pullback V is a great move to shift the focus on the field from one side to the other. It's usually used in the midfield, rather than offense.
The midfielder, for example, is more moving towards the left side of the field but sees an opening on the right side and to get the ball to the right side, he wants to pull it back in a "v" shape, sets it up for himself, and passes the ball over to the other side.
To make that happen, we plant the foot on top of the ball. Ideally, again, with the tip of the toes rather than with the entire middle part because we only want to have a light touch on the ball. The heel is for that, to have maximum agility. We pull it back across your body and then adjust the foot to push the ball forward with the same foot, the same inside of the foot into the open space.
So the defender's right in front of you. You dribble towards him or her, you pull it back towards your body with the bottom of the foot and then push it out with the inside of the foot into the open space on the other side of the defender.
And from there you have a chance to actually pass it to open up the game to the other side to take a shot yourself maybe.
This is a great drill to surprise the defense, to get the opposition to keep moving on the field and create some gaps for your offensive play.
Or, if you just want to practice at home, this is a great way to improve your ball control.
That's the basic idea of the pull back V.