To verbally hoot at someone whilst pointing. Used to jeeringly mock and belittle someone. The origins of this practice stem from the Shelbyville folk in an episode of the Simpsons (GABF08 - The Seven Beer Snitch) who mock Springfield folk by hooting at them.
One foosball team beats another and rightly gives the hate hoot: "Hoot hoot hoot hoot!"
Other team: "Man we suck"