there is an FIA rule for open wheelers about this, although its not exactly relevant here, it could be used for SIMFIA races, or whatever, but only for S3, after random failures have been added, if they do get added.
"" In the event of an unseen failure to others on the grid, the driver must raise his hands above his head and the marshall responsible for that row must wave yellow flags immediatly. In this event the race start will be aborted, annother formation lap will be completed whilst the car is removed from the grid.""
or word to that effect. so, +1 for me as a celebration / gesture to other drivers, and when failures are added then it can be used for that purpose.