In a bowl, whisk together mayonnaise and vinegar until smooth. Cut peel and pith from tangerine and, holding fruit over a small bowl (to catch juice) cut sections free from membranes, discarding seeds.
Rinse and drain hearts of palm and diagonally cut into 3/4-inch-thick slices. Pit and peel avocado and cut into 10-inch pieces. Tear arugula into bite-size pieces and add to dressing with tangerine and juice, hearts of palm, and avocado.
Toss salad to coat with dressing and season with salt and pepper.
Recipe courtesy of Gourmet Magazine