Lofty ideas work best for balls nestled in the greenside rough!
USE YOUR LOB OR SAND WEDGE: Tall grass tends to close the face, so you need loft to help you.
Play the ball back in your stance off your back toe.
Take a normal chipping stroke. Because of your ball position, your club will contact the ball on a steeper descent. The ball should pop onto the green.
The ball will roll more because there is more grass between you and the ball. So select the right landing spot.