Earlier quoted context omitted.
There's a 4-way give way junction here [1]. That's the closest you will get in the UK. It means give way to anything that is in the junction before you are, but the actual effect is for cyclists to frequently be aggressively hooted at and nearly run over by cars. [1] https://www.google.co.uk/maps/@52.2190575,0.1178374,105m/dat...
Interesting construction. This wouldn't be legal in Nordics, there can be no direction in give way signs indicated, and there can be no 4-way give way junctions.
1) Yield to traffic inside the junction,
2) Yield to traffic approaching from your right.
In a four-way yield junction, you have to
1) Yield to traffic inside the junction,
2) Yield to traffic approaching from your right,
3) ??????? to traffic approaching from the left.
It breeds confusion and has no advantage over a regular intersection. Unless, of course, you count confusion as an advantage. Which you do if you drive the vehicle with the largest inertia around.