This is a great stretch for loosening up the outside of your hips and thighs. If you're not limber enough to hold your foot, you can hook a strap or a towel around it to help you reach it.
1: Lying on your back, bend your right knee into your chest. Keep your left leg extended straight out on the floor in front of you. Straighten your right leg, holding the outer edge of your right foot with your left hand or using a strap. Press the thumb of your right hand to the top of your right thigh where it meets your torso.