Player A: Summons Exiled Force.
Player B: Activates Trap Hole.
Player A: Says, "No it's my turn and I have priority."
**The Turn Player has priority when starting a Chain.
Player A: Activates Exiled Force's effect. As the cost of Exiled Force is tributing it, Exiled Force is no longer on the field. You could chain Trap Hole to Exiled Force's effect if it was still there, but it is no longer on the field and therefore cannot be a valid target of Trap Hole.
Player B: Returns Trap Hole back face-down as it does not have a legal target and is considered to have been activated illegally. In Japanese this is what is called a "kara-uchi" (may be spelled wrong).
A Karauchi roughly translated means "empty-hit", or there is nothing there.
The same thing would happen if you were to use a card such as Offerings to the Doomed.
Player A: Summons Exiled Force
Player B: Activates Offerings to the Doomed.
Player A: Declares that they have priority when starting a chain and chooses to activate Exiled Force's effect and tributes Exiled Force.
(This creates a karauchi)
Player B: No longer has a valid target and Flips back over (notice - Exiled Force is a trigger effect and can only be activated during the Main Phase 1 or 2).
<No other actions occur>
Player A: Exiled Force resolves.
For another example, let's use Cannon Soldier.
Player A: Summons Cannon Soldier.
Player B: Activates Trap Hole.
Player A: States that they have priority when starting a chain. They activate Cannon Soldier's effect and tribute a DIFFERENT monster.
Player B: Chains Trap Hole to Cannon Soldier's effect.
<No other actions occur>
<Resolve in reverse order>
Player B: Trap Hole destroys Cannon Soldier.
Player A: Cannon Soldier's effect resolves and does 500 damage to your opponent.
**Notice in this example that Player A did not tribute Cannon Soldier itself so the target of Trap Hole is still legal and does not create a karauchi. However, if Player A had tributed Cannon Soldier it would have created a kara-uchi (empty-hit) and Trap Hole would have been an illegal activation and flipped back over.
Yu-Gi-Oh! has no such designation for Monsters. They are not chainable, as Summoning is not a Spell Speed (please refer to Pgs. 20-21 of the Yu-Gi-Oh! rulebook). So priority can NOT pass to your opponent when you Summon a Monster as it is not (for lack of a better term) a "stackable event".