This is one of our accessory movements when training for strongman. It's a unique way to train the squat hard, but not heavy. Use it to work on your core stability and to work on getting out of the hole of a squat.
You'll need bands and additional weights to do this. I prefer to use mini or light bands and kettlebells. The bells will start to oscillate once you step out, so take time to get stable before starting the descent of the squat.
The wobble squat requires the lifter to control the weight against chaotic forces. With the proper load, these squats can be used for both hypertrophy and conditioning because you're fighting the aforementioned chaotic forces and you're experiencing some significant time under tension. These squats are great to increase core strength and depth because the descent must be purposeful and controlled. Do them for sets of 5.