This is copied word for word from my YM226D factory manual (anything in parenthesis added by me for clarification purposes):
Thermostart Device
With a cold engine and at ambient temperature below 32°F (0°C), operate the thermostart device as follows:
1. Pull throttle lever fully rearward. (This is the engine-kill position on the YM226D).
2. Pull decompression lever for easy engine cranking. (Are you in neutral)?
3. Crank engine 5 to 10 seconds until oil pressure indicator lamp stops glowing. If the lamp does not stop glowing for first attempt, try again after waiting one minute.
4. Place throttle lever in fully forward position (this is full throttle on this model).
5. Turn key counterclockwise and hold it there 10 to 15 seconds. An electric thermostart plug ignites a small amount of fuel in the intake manifold.
6. Pull decompression lever and depress clutch pedal.
7. Quickly turn key clockwise and start engine.
8. As soon as engine starts, turn key back to thermostart position and pull throttle lever about halfway back. Hold key in this position until engine runs smoothly and then turn to “ON” position. If engine does not start within 10 seconds, turn key to “OFF” position and wait at least one minute before trying again.
The book also recommends trying a coolant/block heater for temperatures below 10°F (-12°C).
I can't vouch for any other Yanmar tractor, but this may help someone understand how to use it and what it does on the YM226D. By the way, it is below 20°F here in Pittsburgh Steeler Counrty right now and it started right up using this method. Good luck!!!!