peace pipe

American Heritage® Dictionary of the English Language, Fourth Edition

1. n. A calumet.

Wiktionary

1. n. a pipe smoked in certain Native American cultures that symbolizes peace among those who smoke it, and among whom it is passed around from person to person

WordNet 3.0

1. n. a highly decorated ceremonial pipe of Amerindians; smoked on ceremonial occasions (especially as a token of peace)