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If you want to learn the best handshake ever, you've come to the right place. This can replace your normal handclasp handshake. This is easy to learn, and you can do it with your friends if you have nothing better to do.
[edit] Steps

1. Get a friend to help you.
2. Facing each other, choose to use either right or left hands.
3. Hold one arm in front of your body at a 90 degree angle. Bend your elbows with fingers pointing up. (Like you're going to karate chop a cucumber) Your friends elbow should be at the same level.
4. Do sort of a sideways high-five, if you will.
5. Slide your hand toward your body to clear your friends hand, and rotate your arm, leading with the hand, toward the opposite side of your body (e.g. right hand toward left side, or vice versa). Keep on moving your hand until your hands meet up below your elbows. This is the low-five.
6. Drop your elbow while simultaneously making your hand into a fist. Move your hand up (or down), and have your friend's hand move the opposite direction on top or bottom of your hand.
7. Pull both elbows to your sides with your hands in front of you. Leave extended your index fingers and thumbs while clenching your middle, ring, and pinkie fingers. With the tips of your index fingers pointing to your friend, shake/wiggle them quickly,"


Tips

* Remember to keep your elbow in the same place for the whole first part.
* Make this feel very casual, as it should be.
* Try doing it faster, as it gives it a cooler effect.
* Incorporate some fancy footwork once the handiwork is second-nature.

Warnings

* Practice in private so as not to choke in public if crucial steps are forgotten or executed awkwardly.