Excerpt from this article:
Spend a few minutes browsing social media, or watch groups of travelers posing in front of a popular tourist attraction, and you’re bound to come across it: attractive young Asians flashing smiles and making the V-for-Victory sign (or peace sign). The raised index and middle fingers, with palm facing outward, are as much a part of Asian portraiture as saying cheese is to English speakers. But why?
…It was probably advertising that gave the gesture its biggest boost …Japanese media attribute the biggest role to Jun Inoue, singer with the popular band the Spiders. Inoue happened to be a celebrity spokesperson for Konica cameras, and supposedly flashed a spontaneous V-sign during the filming of a Konica commercial.
…With the mass production of cameras, and a sudden surge in women’s and girls’ magazines in the 1980s, the aesthetics of kawaii — a visual culture superficially based on cuteness — took off. Suddenly, more women were posing for more shots, and more shots of women were being shared. V-signs proliferated much like today’s “duck face” pouts on Instagram and Facebook.
“The V-sign was (and still is) often recommended as a technique to make girls’ faces appear smaller and cuter,” says Karlin.