Wanky-wave
When on takes pleasure waving at neighbours or perhaps people from a bus whilst having a wank. The delight is taken when one is having a wank and waving to others whilst maintaining the royal smile.
"Look at the queens wave, such poise and delight as she takes joy from her subjects!"
"Are you sure she's not having a wanky-wave?"
"Are you sure she's not having a wanky-wave?"