Literally translates to "Harmony, Energy/Spirit & The Way". Aikido can loosely be translated to - The Way of Harmonizing with the Universal Spirit

Aikido is a Japanese Martial art that focuses on blending with your opponent and using their own movements against themselves. 

This carving would make an excellent gift for sensei or for a dedication to a new dojo or dan ranking.  If you would like a special dedication on the back, just add your wording in the "Special Instructions" box at final checkout.  Here is an example