This is also known as Hamsa, or Kamsa, or Hand of Fatima, or Hand of Miriam. The design above is my own twist, and it comes from one of the first animations I designed. You can see the above Khmissa in action here in my animation blog: http://www.russoom.com/artists/adnane_benali/animations/ohbaby/?lang=en&browseby=date
The sign is pretty ancient in history and people believed it repels evil eye. Many famillies in North Africa, Meditteranean and israel hang the design somewhere near the entrance of their houses. I personnaly don't believe too much in this, but I appreciate the design aspect of it and I enjoy splashing colors and curves around it. Read more on wikipedia here http://en.wikipedia.org/wiki/Hand_of_fatima
About my design