In traditional Christian services Palm Sunday is used to observe the story of Jesus' entry into Jerusalem. During this week the most significant event of the Christian religion is reenacted, observed, and remembered. For this reason this week is named Holy Week.
On Palm Sunday many churches pass out palm leaves, they are waved in victory and kept in homes as a daily reminder of the Victory of Christ. One way people have given more meaning to the palm leaf is to form it into the shape of a cross. This symbolizes the ultimate victory of Christ was his sacrifice.
Other than traditional meanings the palm cross serves another purpose, it is said to have a palm leaf or palm cross in ones house will help protect against house fires.
In the link provided is a tutorial in how to make palm crosses. An interesting craft for the holiday.
It is interesting to note that in only one of the four gospels, (the book of John) are palms mentioned, the rest simply state that the common folk greeted Jesus by throwing cloaks on the ground in front of the colt he was riding.
However in Revelation we see this [ The Great Multitude in White Robes ] After this I looked and there before me was a great multitude that no one could count, from every nation, tribe, people and language, standing before the throne and in front of the Lamb. They were wearing white robes and were holding palm branches in their hands.
Obviously we will see that palm branches continue to keep their meaning for years to come.