In my OCA parish, here is how we do it. We form a line counterclockwise. As you approach the first person waiting (usually our Priest), both he and I will make a full prostration. Then, I ask "Please forgive me." He says "God forgives and I forgive. Please forgive me." I say "God forgives and I forgive." We embrace and kiss each other cheek three times. Then I repeat the entire procedure with the next person waiting.
In my Bulgarian and Antiochian parishes, we usually bowed to each other, no prostration. On the other hand, in my current parish, one can do the full prostration or the deep bow; shake hands instead of the embrace and/or the kiss.
I like it either way, but if I can make the full prostration (my body does not always cooperate anymore), I feel blessed. Often, what goes in my mind is the endless repetition of prostrations between Saint Mary of Egypt and Saint Zosimas.