Now that we have a new President, there are new things we all must learn.
Over the last 8 years, we've all received (at one time or another), Bush's favorite hand salute:
But now we have a new salute to learn--and you're probably going to like this one a whole lot better:
The "shaka" sign is a common greeting gesture. It is often associated with Hawaii and sports such as surfing, kitesurfing, skateboarding, skimboarding, snowboarding and skydiving. It consists of extending the thumb and smallest finger while keeping the three middle fingers curled, and raising the hand as in salutation with the back of the hand facing the person that is being greeted; sometimes the hand is rotated back and forth to emphasize the sign.
Hawaiian locals use the shaka for various meanings, like "all right", "cool", "smooth", etc. Residents of states other than Hawaii who use the shaka may describe it as meaning "hang loose" and in California, the symbol itself is more commonly called the "hang loose" sign rather than the "Shaka" sign. It is also used to convey what locals in Hawai'i call the "Aloha Spirit," a gesture of friendship and understanding between the various ethnic cultures that reside within Hawai'i. It can also be used to signal a "hello", "goodbye", " 'till next time", "take care", "Alright!"
Heck, even little Sasha rocks the Shaka!

Why were the Obamas flashing the Shaka during the Inauguration? From the Honolulu Star Bulletin:
President Obama flashed shakas to the Punahou School marching band as they played "Aloha Oe" in the inauguration parade this afternoon.Our new President is not only smart---he's COOL!!!
The band, accompanied by the school's Junior ROTC squad and cheerleaders, were the first civilians to march in the parade that honors their school's most famous graduate.
Obama smiled broadly as the band approached the reviewing stand and started playing "Aloha Oe." Obama, his wife Michelle, and their daughters Malia and Sasha, all flashed shakas to the passing contingent of more than 150 Punahou students.
Obama, who was born in Honolulu in 1961, attended Punahou from fifth grade to his graduation in 1979. He has kept in contact with several friends from the school and visited the Manoa campus twice during visits to Oahu last year.

