I probably perform this maneuver a couple of times each ride. You pick your spots, of course, and always stay alert to vehicles.
At busy intersections, it typically requires me to venture two hundred feet AWAY from said intersection, prior to making my U-turn.
And don't worry if you need to abort and end up riding five hundred feet away, while waiting for traffic to clear.
Anyway, my brother and I call it a schmee-mao-mo, especially when riding together.