Octopus Hold
From Luchawiki

A tirabuzón variation more popular in Japan. Credited to Antonio Inoki, possibly inspired by a similar move he saw Ted Boy Marino use on TeleCatch during his childhood in Brazil. In turn, possibly inspired by Blue Demon's "El Pulpo" hold.
Grounded, it's called La Escalera.
Some practitioners - such as Hana Kimura & her Hydrangea - opt to use the position to gain extra leverage on one of the opponent's arms, turning it into an extreme form of armbar instead of an abdominal stretch.