Basically what came before the more well-known "Awkward Turtle". It still uses hand motions, but in this case, you put both hands into fists and move them simultaneously in a forward, twisting motion of the wrists. This is used for moments that are genuinely awkward, but you'll say "Awkward Eggs" and preform the respective motions, which makes it just that much more awkward. Also used when one wants to point out the awkwardness in a situation, but doesn't want to look stupid by preforming the "Awkward Turtle".
Note: When preforming the "Awkward Eggs", one can increase the awkwardness of the already awkward motions by raising their eyebrows in a "hint hint" manner, such as one would with an inside joke.
As used as an inside joke:
You and your friend glance at each other from across the lunchroom at the same time. Noticing the coincidence, you both preform the "Awkward Eggs" with included eyebrow-raising technique.
As used in other cases:
See "Awkward Turtle".