Begin in basic stance: 
Your feet are positioned directly under your hip bones, parallel to each other, and your weight is centered and distributed evenly over both soles. Your knees are slightly bent (soft), and your pelvis is tucked slightly under (pubic bone toward the navel) in the neutral position. Your ribcage is pulled up out of  your waist; your shoulder blades are pulled together and slightly down the spine. Your neck is long, in extension of your spine.

Right hip drop:
Now shift your weight to your left leg without changing your alignment. Bring your right leg straight forward and set the ball of your right foot just in front of your left toes (but still hip-width apart). Your weight is entirely on your left leg and your left knee is softly bent. Let your right knee bend still more and your right hip drop down (imagine trying to bounce your hip on the floor). Avoid any twisting or forward-and-back movement – this is in the vertical plane. Your upper body should remain as still and separated as possible.

Hip drop/twist variation:
From the same position, add a twist to the vertical hip drop. This looks especially nice when the dancer leans back slightly with her upper body, but take care to keep your back in alignment if you use this position. Your pelvis should remain in a strong pelvic tuck and your back should be in a straight line with your pelvis, not arched.

Big drop/little drop variation:
This variation can be used with both the vertical and twisting hip drops. On every second hip drop, release your right foot slightly from the floor and turn the sole slightly inwards. This allows your hip to make a deeper drop, and creates a nice pattern: little drop, BIG drop, little drop, BIG drop...