Knitting question?

I am in the middle of a pattern and I cannot figure out what to do on this line and I am hoping someone will be able to help me.

The line says: K3, *insert needle through the next st and yo and K1, yo, K1 in same st, sl both yo and st off needle [3 stitches made], P3, repeat from * across row.

My question:

So I insert the needle through the st and yo, don’t you do that to knit the stitch anyway, or is this saying something else?

I dont’ quite understand what this is asking me to do, if anyone can help explain this I would greatly appreciate it!

It’s a YO to make an extra loop on the needle, not wrap the yarn around to make the stitch. So you will have done some YOs on the previous row, and this part - insert needle through the next st and yo, and K1 - is like k2tog with the yo and stitch. But you leave the sts on the L needle, YO (just wrap around the needle, and k1 into the same stitch again. You can practice on some plain knitting by doing a k1, yo, k1 all in one stitch, maybe that will help.

Sue may be on to something here. Do you have a yarn over at that point on the previous row? I think you need to have a yarn over next on the LH needle, followed by a regular stitch (or in the other order, I’m unsure). I understand Sue to be saying to skip the yarn over strand and insert your RH needle through the stitch next to it and on though the yarn over as though you were going to knit the two things together. Go ahead and knit them together but don’t take them off the LH needle yet, now do a yarn over and then knit the 2 together again, this time letting them off the LH needle. You have 3 new stitch loops on the RH needle.

Sue explained it to me and I am just trying to say the same thing she said in a different way and maybe the two renditions will be helpful.