The lapeloplata is an important fundamental move. Starting with an attempt to control their collar once squid guard has been set up, as your partner postures up, take control of their sleeve. Then, set up one of these attacks:
Kick your partner forward, just like an omoplata sweep. You should note that you have an additional bit of leverage with the lapel you're gripping underneath your partner's knee.
If you execute a sweep but want to go straight for a submission, this wristlock set up can be a quick way to finish the match (or roll).
Similarly, you can look to advance your position. Stepping backward into mount can take your partner by surprise.
The lapeloplata, while highly effective in its own right, works best in context with the rest of the system, leading to more and more possible options, like this Squid Guard Triple Attack.