peace, love and harmony.
The peace sign is actually the symbol of nuclear disarmament. The symbol is made up of 2 "semaphoric" letters. ("N" and "D".) The meaning was later translated to mean "peace". For more information...
Because the 60's was all war.
Yes. Most hippies want world peace.
Often olive leaves, olive branches, or doves may be used in a modern coat of arms to symbolize peace. Hands being shook can also sybolise this