This sign is a pictograph of a noose or snare. Hence, It is an ideograph for the verb to ensnare.
Illustrative Text Reference:
Mohenjo-daro: Seal: M-1097 a: Sayid Ghulam Mustafa Shah and Asko Parpola, 1991: Corpus of Indus Seals and Inscriptions: Volume 2: Page 114: Collections in Pakistan: Suomalainen Tiedeakatemia.
Comment:
It is interesting to note that the motif on seal M-1097 is a bull with a trough. Such motifs are normally associated with places to eat.
Image Credit:
Indus Script Sign Number 2281: List of Sign Variants: Iravatham Mahadevan, 1977: The Indus Script: Texts, Concordance and Tables: The Director General Archaeological Survey of India.