A pinky promise (also known as a pinky swear) is made when a person wraps one of their pinky fingers around the other person's pinky and makes a promise. Traditionally, it's considered binding, and the idea was originally that the person who breaks the promise must cut off his pinky finger. In a similar vein, among members of the Japanese yakuza (gangsters), the penalty for various offenses is removal of parts of the little finger (known as yubitsume).
Also in Japan, a little finger symbolizes the one's best girl, whereas a thumb symbolizes the one's best man. Thus a little finger held up and referred to as "this(コレ)" during a conversation paraphrases that the addressed woman is in relationship with somebody. This pinky substitution is considered vulgar and old-fashoned, however, in some anime scenes is intentionally used to enhance its silliness.
In China, if one holds up a little finger at another, it is usually considered vulgar, just as holding up a middle finger in the United States and other countries is generally regarded as offensive. In addition, in the United States, wearing a ring on the pinky finger has some symbolic meaning. The pinky finger is the relationship finger. If you wear a ring on the pinky finger, you are open and loving.
In Korea, The story goes: A princess chooses her prince to be wed, when asked what finger she was holding out. She must find a Prince to unite Pinkys for their matrimony. After the Princess had gotten married with this prince, he later parted ways for war and he'd made a pinky promise for his return. On the 49th day after his disappearance, he came back, but only to realize he came back as a ghost. As the prince kept his promise, he after death.
In India, holding up the little finger is also a signal of "katti" or a broken friendship, a sign that someone is angry, or a playful suggestion that the person flashing the pinky is not going to speak to you.
In India, holding up the pinky is a signal that the person has to urinate.
Similarly, in Indonesia, when a man points his pinky finger downward it is a signal that he needs to urinate.
In Turkey, it's tradition to link pinky fingers when two people are making a bet.
In Judaism, it is customary to extend one's arm and pinky finger to the Torah as it is lifted following its reading in the Synagogue.
The Iron Ring is a symbolic ring worn by some Canadian engineers. The Ring is a symbol of both pride and humility for the engineering profession, and is always worn on the little finger of the dominant hand. (A similar ritual is performed in the United States called the Order of the Engineer).
In the Balkans, a solitary long fingernail on the pinky finger of a man signifies that he is single.
The Alpha Kappa Alpha sorority holds their pinky finger in the air as a (Greek) greeting to their fellow sisters.
In Russia, when two people are French-kissing, it is customary to often link pinky fingers together.
In the United Kingdom, it used to be considered a social requirement to raise one's little finger whilst drinking a beverage out of a cup or mug.