Possible interpretations include an ellipsis-like symbol, a menu or options marker, a stylized communication badge, a mysterious interface icon, or a decorative sign resembling a game token, speaker grille, or coded symbol. People may have wanted such a character because early emoji and dingbat proposals often tried to preserve quirky pictographs from legacy fonts and make them usable in plain text, chats, usernames, and online art. Its meme or internet relevance would mainly come from its strangeness: it looks like a forgotten UI button or cryptic glyph that could be repurposed for jokes, secret meanings, glitch aesthetics, or symbolic decoration.
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Emoji History The emoji code/ image log of changes.
This emoji was one of the "suggested emojis" the Unicode group unveiled in June 2014 [article], however, it has been, and still is, up to the companies who support emoji in their operating systems to provide not only images but also an algorithm to replace the emoji code into the emoji image.