Ancient Aztec sacrifice? The Azteks used to have unwashed gay shamans who would cut the heart out of a living man and hold it high [in hand] for all to see including the victim before consigning it to the flames. (Not that there's anything wrong with that.) Later on the shamans skin the victim and they make a new dangly-handed jumpsuit out of his hide for one to wear to the next ritual. Fresh hides cut the smell...
Or, it could be the logo of the Tibetan chapter of NAMBLA . ;-)
By chance is it the Claddagh symbol? http://en.wikipedia.org/wiki/Claddagh_ring