As y^2-4>0, factorizing we have (y+2)(y-2)>0
From this we know that the product (y+2)(y-2) is positive. It is apparent that sign of binomials (y+2) and y-2 will change around the values -2 and 2 respectively. In sign chart we divide the real number line using these values, i.e. below -2, between -2 and 2 and above 2 and see how the sign of y^2-4 changes.
Sign Chart
color(white)(XXXXXXXXXXX)-2color(white)(XXXXX)2
(y+2)color(white)(XXX)-ive color(white)(XXXX)+ive color(white)(XXXX)+ive
(y-2)color(white)(XXX)-ive color(white)(XXXX)-ive color(white)(XXXX)+ive
(y^2-4)color(white)(XXX)+ive color(white)(XXX)-ive color(white)(XXXX)+ive
It is observed that y^2-4 > 0 when either y < -2 or y > 2, which is the solution for the inequality.