Pretty much the way kitty explained it is the way I do it. Just the breathing out part is hard to explain. I push the smoke out with the back of my throat also using a cough blow technique you could say. So let me try to explain this step by step and see if it helps you.

1. Inhale the smoke
2. Exhale a tiny amount of the smoke
3. Make sure your mouth is in the shape of an "O"
4. Blow the rest of the smoke out using the back of your throat while doing a small sort of cough while blowing in a way. Not a cough you can hear but how you would blow out if you were coughing. Hard to comprehend probably but I tried my best.
5. Final result should be some fine ass smoke rings with halo wings and a rhino horn attached. have fun.