V for victory is done palm outwards, "the forks" is done palm facing you and in an upwards sweeping motion. Quite a silly comment since the V for victory sign originates with Winston Churchill.
The V insult originated after one of the early Franco/British wars. the French used to cut off the index finger of captured archers so they could no longer draw a bow. The Brits used to make this sign before a battle to show the French they still had their bow fingers, kinda like "nahnah, come and get me asshat". Eventually it simply came to mean "up yours".