It is; it's supposed to be a symbol of non-aggression, i.e. covering your fist with your hand. (Although apparently that's just one of many interpretations assigned to it.) Sometimes the fingers are curled over the fist as well. It seems to have been co-opted by several martial arts styles and called several different things accordingly, but Shaolin Kung Fu seems to be the most likely originator, making shaolin_fist the moniker of choice.