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A 'finger wave' is a method of setting hair into waves (curls) that was popular in the 1920s and 1930s and in the late 1990s in North America and Europe.
The process involves pinching the hair between the fingers and combing the hair in alternating directions to make a wave shape. A lotion was applied to the hair to help it retain its shape.
This style was eventually superseded by hair rollers.