From the Super Mario Wiki
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Daisy begins the shot by dribbling the ball in a triangle, while a small field of flowers grows at her feet as she does so. She then spins slowly into the air and magically casts the yellow-glowing ball into the hoop. For added effect, lightly colored petals trail the ball, and large flowers bloom when the shot goes in. If Daisy is touched during the shot, the character who touched her will lose their coins.
If the ball is shot outside the 3-pointer line, the visuals don't change, but as usual, a teammate needs to jump and complete the shot.