I've had a motorcycle and Jeep Wrangler and found that drivers of both wave at each other.
I just got a Subaru, which is kind of a cult car especially among people that live in snow country, Denver, Salt Lake City, Lake Tahoe, Maine.
At Signaling Subaru Owners- The Correct Way - Subaru Impreza GC8 & RS Forum & Community: RS25.com, kaspur_eh says,
Section A - History of the wave Proper waving is an integral part of customs and courtesies. The history of the subaru wave dates back to the middle-century when 360 owners would nod as a sign of recognition. With the mass production introduction of the WRX in 2001 and Sti in 2003 it has become a common courtesy to wave to another Subaru owner as a sign of mutual respect.
Section B - How to wave There are various techniques of waving. They all however involve the usage of the hand. The most visually effective meathod of the wave while in the Continental US (Use the left hand if waving from a Non-US right sided vehicle) is to raise your right hand 20 degrees off the steering wheel and spread the tips of your fingers one inch apart. It is very important that you spread your fingers apart so as not to resemble the "heil hitler" salute. You also want to make sure you do not wave your hand from side to side - that denotes you have spotted a friend versus the Subaru wave.
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