Can I use my phone as pocket WiFi?

Excuse me, I was wondering if you could clarify something for me. I've been considering using my phone as a pocket WiFi device, but I'm not entirely sure if it's possible or how it works. Could you explain the process to me, including any potential limitations or requirements that I might need to be aware of? Additionally, would you recommend using my phone as a pocket WiFi, or are there any alternative options that might be more suitable for my needs?