The action as described in the question is more of a "raise the roof". (celebratory)
An apology shrug is: hands up in front of the shoulders,palms outward,fingers pointing straight up. There is no name for this... Hence, we have the gesture. This same gesture with the hands extended at forearm length is: "Back-off" (This is common enough to be described as "the signal to 'back-off'".)
Another apology shrug (with an implied "But,it wasn't my fault"): palms up -just above the shoulders,fingers tilted back.
A shrug with the palms out, arms held close to the body,fingers spread downward and outward, implies: "What's up?" or, "What happened?".
A shrug with the palms up, forearms extended to the sides, fingers spread wide and upward, signifies: "What the hell?!"
(Empirical evidence only) (US)