I've never heard of this exercise before, but it sounds like it would be a good bicep-developer. How come it isn't a common exercise? Has anyone ever used these?
Think of an upright high pull but using a palms out (palms facing away from you) curl grip. However you can only pull (drag) the bar up your body about as high as your nipples. Basically you drag or pull the bar up your torso as high as you can.