Usually after a hockey game, a third party names the "Three Stars" of the game. This is based on the player's performance during the hockey game. These "Stars" come out one at a time and acknowledge the fans by either taking a lap or just raising their stick.
After a little digging, I found that in the NHL, the three stars was first awarded in the 1936–37 NHL season and continues today.
Three stars are generally not awarded during international play, such
as at the Winter Olympic Games. The IIHF World Championships and World
Junior Championships instead issue awards such as "Best Player" for
each team per game, or the overall best player per position over the
course of the tournament.