Hmm, tough one... Is he raising his hand, or giving a "get outta here", wave? Graphic has "wave", in the name, so I'm assuming the latter.
I had recent use for a check-mark. I think as a smiley, it would work. : check: (I don't have the checkmark in question)
um..speaking of smilie requests....can bunnie have a smilie?! seriously..i thought i had one for a while...but it seemed to disappear.