what does the candy bar and the hot dog stand for

Garvey decides to share his hot dog with Cole. Garvey's act of sharing transforms simple food into a celebration. Each time Cole takes a bite, Garvey makes a toast, "Here's to the sun and the rain."This way Garvey is able to share the hotdog with everybody and make it part of everyone's experience,

"All of life is a hot dog. Make it what you will. I suggest you make your time on the island a delectation."

The hot dog later represents the part of the feast that Cole feeds Edwin and Garvey, It shows Cole finally recognizes how to use what he has and honor his elders. Cole uses the candy bar as a peace offering to Peter.