Other forms: waggled; waggling; waggles
To move back and forth or up and down very quickly (and a little erratically) is to waggle. I don't recommend that you waggle your arm under your teacher's face to get his attention. Try raising your hand politely instead.
This word sounds like a cross between wiggle and wag. Just watch a really excited dog's tail moving and you'll get a sense of waggle's origin — it does derive from wag and its Old English root wagian, "move backwards and forwards." In golf, you waggle a club by swinging it around a bit before hitting the ball. And beekeepers describe the "waggle dance" honeybees perform to communicate information to each other.