Legend deems that at the time of Siddhartha Gautama, known as the Buddha, all heavenly beings came together and made offerings to him, these were the eight auspicious signs, or symbols. They are often used to decorate shrines in the Vajrayana tradition. These symbols are often made from bronze, silver, gold, wood, or  are simply drawn; however, they should not be made from iron. Each symbol is said to represent a part of the Buddha's body.

The Precious Vase, sometimes called the Great Treasure Vase is the Buddha's neck. Since all Dharma teachings were spoken by the Buddha it represents the teachings and principles of the Dharma (or the Way). It also symbolizes long life, wealth, and prosperity. Making an offering of the vase signifies a wish that all beings will receive the truth of the teachings of the Buddha. 

The Precious Parasol, or Protection Parasol, represents the Buddha's crown, which is equivalent to an umbrella above his head to shield him from rain or shine. Some Vajrayana Masters use the parasol when giving empowerments and teachings. It serves as a beneficial act for keeping all beings from illness, harmful forces, obstacles and the like, in life. An offering of the parasol is a wish that all beings can be liberated from suffering and achieve happiness.

The Golden Fish are the Buddha's wisdom eyes. He uses them to look upon all beings with compassion in order to alleviate them from suffering and help them obtain happiness and spiritual liberation. They also symbolize wisdom. Offering the golden fish signifies a wish that the ignorance of all beings can be dispersed so that they will be able to realize the truth of all phenomena through newfound wisdom.

The White Lotus is the Buddha's tongue; he speaks the Dharma tirelessly to all beings so that they can understand they Way. The white lotus is the ultimate Dharma because, although it grows in muddy places, the mud does not tarnish its pureness. It is the purity of the mind, body and speech, as well as, the budding of wholesome deeds in blissful liberation. Offering the white lotus symbolizes a wish that everyone can have the gift of the Buddha to benefit all beings.

The White Conch Shell, or Right-Turning Conch, is the Buddha's three necklines. Per Indian tradition, in which a conch shell was blown as a warning during war times, Buddha's Dharma has the same warning effect on all sentient beings. In both cases the signal can be heard far and wide. It is the awakening from a slumber of ignorance. Offering the white conch shell is a wish that all beings can be free from love, hate, aversion, attachment, and that they can renounce the mind of discrimination.

The Magnificent, or Endless, Knot is the Buddha's three Hearts. It has no beginning, nor end; symbolizing the boundless and permanent awareness of the Buddha. Some tantric masters give the endless knot to their disciples to wear for blessings and protection. It is the unity of wisdom, endless compassion, and the fanciful character of time. Offering the magnificent knot is a wish that all beings can achieve the same awareness as the Buddha.

The Victory Banner is considered the fulfillment of Buddhahood, that is, attaining the supreme enlightenment. It is the complete victory of Buddhist doctrine over death, ignorance, and all things negative in this world. This is the ultimate victory of Buddhism. The victory banner can also be seen as the Buddha himself.

The Dharma wheel is the Buddha's palms. It has eight spokes, each one representing part of the Eightfold Path. Buddha speaks the Dharma in order to turn the wheel. Many turn the wheel twelve times (three for each of the Four Noble Truths) in remembrance of the first turning by Buddha Shakyamuni in the Hinayana tradition. The turning of the wheel of the Buddhist doctrine in teachings and realizations allows one to experience the joy of wholesome deeds and blissful liberation. Offering the Dharma wheel signifies a wish that all beings will have the strength and ability to develop the seed of Bodhichitta (the Great Aspiration).

See these links for more information on and images of the Eight Auspicious Signs:

http://www.tibet.com/Buddhism/8ausp.html

http://www.geocities.com/Athens/Ithaca/4886/aus.htm

http://www.manjushri.force9.co.uk/symbols.htm

Sources of information:

The Eight Auspicious Signs (Trashi Taggyed) @ http://www.diamondway-buddhism.org/terms/au-signs.htm

Individual Eight Auspicious Signs @ http://www.fpmt-osel.org/gallery/signs.htm

This site was created by Sonja Lehti as a class project for Buddhism Then and Now at the University of Wisconsin Eau Claire, if you have any questions or comments please e-mail me at jedisteve@comcast.net