The V symbol with 2 fingers facing the recipient is a positive sign and means Victory. However, if the back of the hand and the V symbol is facing the recipient , this is an obscene gesture meaning "up yours"

It is an obscene or offensive gesture, showing a dismissive or hostile attitude. It is threatening and intimidating. In words "F*** off!" which if I wrote would be against the italki guidelines on obsenity !!

I've lived all over the U.S. and have never once seen it used to mean anything other than "peace". (I believe that originates from the '70s peace movement here in the States.) I've also seen foreigners use it in this context.

It means peace.

The meaning of the V-sign depends on the context. It usually means "victory" or "peace." In California, I haven't seen it used as an obscene gesture since we would just think you're a foreigner who is facing it the wrong way. Another cool sign in the United States that may not be understood by all Americans is the "shaka" or "hang loose" sign with the thumb and pinky up. It's part of surfer culture and is used a lot in Hawaii. Even President Obama flashes it occasionally since he was born in Hawaii.