That's what I always assumed it was.
Like a 'Woo yay' emoticon.
(
Green Spanner and his magical lack of activity,
Mon 12 Nov 2007, 18:11,
archived)
oh..
i always thought it was a lady's personal bits wide open.. =-0
Edit: being congratulated with personal bits may only be appealing to the aquired taste
(
eight,
Mon 12 Nov 2007, 18:14,
archived)