Get field list from string

DECLARE @FileFormat VARCHAR(50)
 SET @FileFormat = '1#34#6#8#01#34#6#8#01#34#6#8#01#34#6#8#0'
 
 ;WITH MyTable AS 
 (
  SELECT @FileFormat AS FileFormat
   , CHARINDEX('#', @FileFormat) + 1 AS FirstIndex
   , (
    CHARINDEX('#', SUBSTRING(@FileFormat, CHARINDEX('#', @FileFormat ) + 1, LEN( @FileFormat ) ) ) - 1
    ) AS SecondIndex
  
  UNION ALL
  
  SELECT SUBSTRING( FileFormat, FirstIndex + SecondIndex + 1, LEN( FileFormat ) ) AS FileFormat
   , CHARINDEX('#', SUBSTRING( FileFormat, FirstIndex + SecondIndex + 1, LEN( FileFormat ) ) ) + 1 AS FirstIndex
   , (
    CHARINDEX('#', SUBSTRING(SUBSTRING( FileFormat, FirstIndex + SecondIndex + 1, LEN( FileFormat ) ), CHARINDEX('#', SUBSTRING( FileFormat, FirstIndex + SecondIndex + 1, LEN( FileFormat ) ) ) + 1, LEN( FileFormat ) ) ) - 1
    ) AS SecondIndex
  FROM MyTable
  WHERE LEN( FileFormat ) > 0
   AND SecondIndex > 0
 )
 
 SELECT 
  (
   CASE 
    WHEN FirstIndex - 2 > 0 THEN SUBSTRING(FileFormat, 1, FirstIndex - 2)
    ELSE SUBSTRING(FileFormat, 1, LEN( FirstIndex ) )
   END
  ) AS PreviousField
  ,(
   CASE 
    WHEN SecondIndex > 0 THEN SUBSTRING(FileFormat, FirstIndex, SecondIndex)
    ELSE ''
   END
  ) AS FieldName
 FROM MyTable
 OPTION (MAXRECURSION 0)