Once upon a time I took a whole course on Pollock and his mentorship / inspiration under Thomas Hart Benton. A lot of his earlier work was figurative with flowing shapes and forms, much like Benton's, before he went more abstract. This one is definitely a crowd of dancing figures IMO.
Pollock sometimes incorporated his signature into the painting as well, though in this one it's just at the bottom.
The style and rhythm is fully there, now it's just a matter of figuring out that next step of dripping the paint instead of applying it with brush pressure.