The term given to making your hand and elbow pivot up and down from your shoulder, used as a greating on some occasions. It is commonly used by people that may think they are cool, but actually look extremely gay.
In Magic: the Gathering when an opponent returns a creature back to a player's hand (usually in the form of Boomerang or a similar card), used as a verb.
"I'm gonna bounce your Lord of the Pitand then attack with my Raging Goblins just to piss you off."