It isn't really quite a 'spit' but it mimics the motions and the sounds: slightly mock spitting three times and saying “ftou, ftou, ftou”.
Some Greeks believe that spitting wards off the devil and misfortune. That is why when someone talk about bad news (deaths, accidents, etc…) the others slightly spit three times saying “ftou, ftou, ftou”.
Another appropriate moment to spit on someone is when complimenting a baby, a child or even an adult for their beauty.
It is not as light a thing as a normal superstition: in the Greek Orthodox Church ceremony for baptism, both the priest and the godparent baptising the child spit 3 times in order to ward off the devil!
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