Wipe on plenty. Leave it for 10 minutes, and wipe off excess.
Leave it in a warm room for 3 hours, and apply another coat, leave for 10 minutes, and wipe off excess.
leave in a warm room for 12 hours, and apply another coat, not excessively.
Leave for 12 hours and apply another coat, not excessively, rinse repeat every 12 hours as desired.
Yes its danish oil only on that piece, and if you are polishing yew, you should get a similar finish after 7-8 coats.
But other timbers may require more coats, depending on density of timber.
What are you polishing??