Iyón is an ANG demonstrative pronoun that refers to specific people, things or places that are far from the speaker. This can also be translated as "that" or "over there." It has a different context from iyán because of the nearness of the subect being talked about to the speaker.
Do not shorten and connect iyón with the linking verb ay as it would have a different meaning.
Iyón can be placed at the beginning of a sentence, followed by the linking verb ay (Iyón ay). For the inverted sentence form, iyón can be placed at the end of the sentence, dropping the linking verb ay. When the inverted sentence form is used, it will slightly sound casual compared with the subject-predicate sentence order.
The shortened form of iyón is `yon. Letter "i" is dropped and an apostrophe is added before the letter "y". This is often done for casual conversations. Either the subject-predicate sentence word order or the inverted sentence form can be used.