This rider is giving a hand signal indicating a right hand turn into the right turn lane and then to turn right at the next corner. He is using one of two proper signals for a right hand turn, more commonly the right arm is extended out 90 degrees. Both signals are acceptable and indicate movement to the right on the part of the cyclist. The drivers of cars in both lanes now know the intention of the cyclist and can plan their movements accordingly.
By being predictable, as if you are driving a car, you are providing the surrounding drivers information so they may advance appropriately and avoid a collision with the cyclist or other cars. Be predictable!
–Karen Bohn, board member, Bicycle Indiana