Like the term 'high-five', you give your fellow friend a high-five, but instead of your hands, it utilises the tip of your elbow (known as a wenus). Great to attract unwanted looks and attention when said in unison. Too much exertion can result in painful funnybones.
A mouthful to pronounce, but if you've heard of a rave dance (which consists of multiple persons who dance fanatically to music), then this is similar. Instead of raising your arms (usually resulting in flapping hands in the air), you raise your wenus and flex it from one side of your body to another, creating the image of your wenus 'dancing'. Be warned! When completing this awfully difficult dance move, it will guarantee raised eyebrows (as with anything wenus-related).
"Man, let's hold a wenus rave dance!"
"...Like here? And now?"
"Duh. C'mon, it'd be fun!"