It's commonly used way of telling goodbye. Also sign for "so long".
There are various ways of telling goodbye, with love, with sarcasm, with a baby or a sweetheart, and so on. You will learn more when socializing in real life in the Deaf community.
This sign may be used with a baby (sometimes more repetitive in movement) or a sweetheart. But, this sign also may be used to friendly joke with a good friend ("glad that you go!", "bye-bye!" in sports when one loses, or such accompanied with a specific tone).
Related signs: A common, casual way of saying BYE. A little more formal way of saying GOODBYE. Or maybe have a FAREWELL party.
Search/Filter: Enter a keyword in the filter/search box to see a list of available words with the "All" selection. Click on the page number if needed. Click on the blue link to look up the word. For best result, enter a partial word to see variations of the word.
Alphabetical letters: It's useful for 1) a single-letter word (such as A, B, etc.) and 2) very short words (e.g. "to", "he", etc.) to narrow down the words and pages in the list.
For best result, enter a short word in the search box, then select the alphetical letter (and page number if needed), and click on the blue link.
Don't forget to click "All" back when you search another word with a different initial letter.
If you cannot find (perhaps overlook) a word but you can still see a list of links, then keep looking until the links disappear! Sharpening your eye or maybe refine your alphabetical index skill. :)
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ASL has its own grammar and structure in sentences that works differently from English. For plurals, verb inflections, word order, etc., learn grammar in the "ASL Learn" section. For search in the dictionary, use the present-time verbs and base words. If you look for "said", look up the word "say". Likewise, if you look for an adjective word, try the noun or vice versa. E.g. The ASL signs for French and France are the same. If you look for a plural word, use a singular word.