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Hawaiian hand gesture. It has many meanings. Originally it means to "hang loose", or to chill and be laid back. It can be used as a positive reinforcement. If somebody did something good, cool, or righteous; You can give them a shaka as a sign of approval or praise. It can also be used as a welcome/goodbye sign. Most people would give the shaka as a sign of wassup or hello, use it as a way of saying goodbye, and even use it as a thank you.