The "Hang Loose" hand sign is also known as the "Shaka"
The shaka sign, sometimes known as "hang loose", is a gesture often associated with Hawaii and surf culture. It consists of extending the thumb and smallest finger while holding the three middle fingers curled, and gesturing in salutation while presenting the front or back of the hand; the hand may be rotated back and forth for emphasis. The shaka sign was adopted from local Hawaiian culture by visiting surfers in the 1960s, and its use has spread around the world. @Curionic
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