In 5 Card Stud Poker every player antes, and then a single card is dealt, face-down. This is the hole card. Then a second card is dealt, face Up. Now a round of betting starts. An additional card is dealt, followed by a round of betting. This carries on until each player has a five card hand. The showdown occurs and the best hand wins.
The following are some variation of 5 Card Stud Poker:

Mexican Rollover
In this game the first two cards are dealt face down. Each player has the alternative of revealing the card of their choice. A round of betting takes place. A new card is dealt to every player. The player then chooses to expose the new card, or a card previously in their hand. Once everybody has made their decision a round of betting takes place.
Play continues like this until the showdown.

In a Chicago style showdown, the player with the highest spade in the hole wins half the pot. Thus an Ace of Spades in the hole is a sure winner.

No Peek
A game in which it is not possible to bluff. Each player gets five cards, face down. Players are not allowable to look at their cards. The first player exposes a card, and then bets or checks. The next player then turns up cards from his hand until he shows a hand that beats the previous players. Another round of betting takes place. If a player turns up all the cards in their hand without becoming the highest hand at the table, they are automatically out. The hand ends with the best exposed hand taking the pot.