lolcow - scheme or meme dreamed up by internet nerds that has the potential to cause humorous results (see: 4chan posting fake apple ads online saying your phone could be charged by putting it in the microwave, 4chan saying you could drill out the bottom corner of your iPhone to uncover the "secret" headphone jack, etc.)
Someone else answered, but literally the OK sign with your hand (index and thumb touching) is supposed to represent the letter W (the three fingers splayed make a sort of W I guess) and the letter P (I don't see it either). Which is supposed to mean "white power."
This is a meme completely generated by online pranksters, but some/many left leaning activist types take it EXTREMELY seriously. For examples [1] [2] [3]. There are tons of things like this (I mentioned hawaiian shirts being one of the latest); they're mostly generated as pranks on imageboards, and as far as I can tell, they're designed to discredit humorless leftists, rather than actually transmit high frequency right wing brainwashing messages. Imagine being a normal person who makes the OK sign, or wonders out loud why it isn't OK to be white and is condemned as an evil nazi by .... "activists" for the full effect. I mean, the OK sign has been used for assent for ... what? 2500 years?
