From our friends at Wikipedia:

A palm branch (or palm frond or palm stem), usually refers to the leaves of the Arecaceae (sometimes known by the names Palmae).

The palm branch was a symbol of triumph and victory in pre-Christian times. The Romans rewarded champions of the games and celebrated military successes with palm branches. The motto of the HMS Nelson and the University of Southern California is "Palmam qui meruit ferat", which means in Latin, "Let him bear the palm who has deserved it". Jews followed a similar tradition of carrying palm branches during festive times.[1]

I would add that rather than carrying the thing, I envision a well endowed, scantilly clad, maid servant(s) gently creating a cooling breeze while I roast on the toasty white sand by a turquoise sea.

But that's just me. My wife may have other plans.

Hope that helps to clarify the fantasy. Feel free to substitue your own.

See you all at the launch.

crazydik