This was from the mail bag. Brian did not have an answer, so I will copy the statement and give my $0.02
"I was at the Eastern/UM game Saturday and noticed the student section doing a chant where they extend their arms at the opposing team and wiggle their fingers... sort of like they're "jinxing" them. It sounds like the students are saying, "boo" or "ooh." At first I thought it was the "key play" chant where they shake their keys, but there were no keys in their hands. Can you enlighten me?"
my $0.02: I believe this started last year and it is a chant/cheer/ritual along the same lines as singing "You Suck" along with the song "Temptation" on 4th down, except this is done quite consistently preceding opponents 3rd down plays, and only on 3rd downs. The band plays a 4-6 bar intro that is supposed to be loud, strong and intimidating, then, led by the band director, the band and students "extend their arms at the opposing team and wiggle their fingers" several times over, and give a repeating OHHH! until the huddle is broken and it turns into a loud continuous roar. It is not oooh, or boo. I dont believe this to be a jinx anything, but rather just another band/ student section ritual in order to increase involvement and raise the noise level.