When one waves with his elbow at someone when he/she only has one arm partially free and lacking the full range of motion to complete a full wave.

It is a deeply meaningful gesture showcasing the depth of commitment the waver has for the wave receiver; faced against all odds of completing a true hand wave, the waver still tries and does the next best thing.
A person carrying a bag and talking on the phone sees a friend passing by, he penguin waves with the elbow on the phone-arm.
by Mr. Wise Guy October 30, 2011

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