For that right turn corner:
Before entering the turn, and using the leverage of your knees against the gas tank, slide your butt off+put pressure on the left peg+hook your left forearm and left knee against the tank, right side of your body to be relaxed in whatever natural position it takes.
To switch hang off to the opposite side, use the leverage of your knees, trying to upset the bike the less possible.
Pegs can take whatever amount of weight that you wish putting on them.
The reasons for putting pressure on the left peg are two: increase friction between the peg and your boot for a more effective hooking of the left knee, and using the peg as a pivot point for the initial countersteering pushing effort of the right hand (which can be hard to do at high speeds).
Note the quick flick for banking of the bike in the video and the change in the visual direction of the rider entering the turn.
Be gentle on the steering bar at all times, except while countersteering; it is not a handle.
Link to original page on YouTube.