From the leader's standpoint, the lead is sequential steps, just like many other Tango moves.
(1) The lead specifies her axis. Adding a "wind up" helps.
(2) The lead gives a little "lift" for her, further clarifying his intention that he wants her to be on the specified axis.
This little "lift" is a very important, but frequently overlooked, lead signal in tango. It is overlooked because the lift is subtle. It is felt by her but usually not visible from others.
(3) The lead leads her to lean over while she stays on the axis, still supporting a major portion of her own weight. He takes a step/steps to adjust his foot position and to balance, while using his own leaning toward her to counterbalance. Depending on the heights, position of connection point, and ratio of weight balancing, the feel varies.
It takes some getting used to it especially for her. It is like the Trust fall.
(4) [optional] while leaning, she swings her non-axis leg, keeping her toe on the floor, which also helps her balance. He makes sure his leg is not on her leg's path.
(5) Usually using rotational move, he brings her back up. There are variations in the backing up, too.
A little note for the Volcada today.
[A couple of dramatic leans for stage Tango]
I have been taking time to analyze data and write a grant. Once the grant is sent out on coming Monday, I'll return to a review manuscript for its revision. They will be the work for this and next week. Just minding own business.