Last summer, I discovered YouTube. This summer, I discovered Wikipedia. Well, not really, since I've known of its existence for a long enough time. But lately, I've been reading a whole lot of Wikipedia stuff. Mainly about Naruto.
This is a henohenomoheji (へのへのもへじ). The word breaks down into the 7 hiragana characters he, no, he, no, mo, he, ji. The first two he are the eyebrows, the two no are the eyes, the mo is the nose, and the last he is the mouth. The outline of the face is made by the character ji, with the dakuten forming the ear. Children use henohenomoheji as the faces of kakashi.
"Yubikiri genma, uso tsuitara, hari sen bon nomasu yubikitta."
The above phrase is used during a pinky swear. A pinky swear happens when two people entwine their little fingers to signify that a promise has been made. Originally used to indicate that the person who breaks the promise must cut off their little finger, it has now become a more informal way of sealing a promise between school-aged children and close friends. It cannot be broken or counteracted by the crossing of fingers, which is used to bring good luck or nullify a promise.
Disclaimer: All of the above information were gathered from Wikipedia.