The V Gesture is a Gesture made with one's Hand, that looks like a V.
This V Gesture can mean one of three things when the palm is facing out. And mean something else when the back of the hand is facing out.
Performing the V Gesture
The V Gesture is made by positioning the Index Finger and the Middle Finger in the shape of a V (and the Thumb, Ring Finger, and Little Finger, in the way they would be if you were making a Fist).
Or, in other words, the Index Finger and the Middle Finger are raised and parted, while the rest of the remaining fingers are clenched.
Meaning of the V Gesture
The V Gesture can mean one of four different things.
This V Gesture is sometimes used to represent the concept of Victory, when the palm is facing out.
Note, you should show the bottom of your hand -- the palm side of your hand -- to the person (or people or who or what ever) you are making this Gesture to. Showing the back of your hand means something else.
Also, this same gesture can also represent the concept of Peace. I think this alternate meaning came out as a retaliation to the V Gesture being used to represent victory in war. Some people in the 1960s and 1970s started showing the V Gesture and saying "Peace" so much that the V Gesture started to become assosiated with the concept of Peace.
(This is actually what I understood the gesture to mean. Well, this and the Bunny Ear Gesture.)
Further, this same gesture, can be the Bunny Ear Gesture, if put behind someone's head. When done, it is common to do it when people are taking Photographs. And is considered funny. (Especially by kids.)
If the back of the hand is facing outward, with the V Gesture, it is considered insulting, in some parts of the world. (Like in England.)
This gesture is a way of saying Fuck Off, Fuck You, Go Fuck Yourself, or Up Yours.
This is sometimes caled the Two-Fingered Salute. And sometimes also called the Bowfinger