In the example, this Indus sign is used as the verb to paint (a banner or sign).
Illustrative Text Reference:
Mohenjo-daro: Seal: M-13 a: Jagat Pati Joshi and Asko Parpola, 1987: Corpus of Indus Seals and Inscriptions: Volume 1: Page 11: Collections in India: Suomalainen Tiedeakatemia.
Image Credit:
Indus Script Sign Number 1069: List of Sign Variants: Iravatham Mahadevan, 1977: The Indus Script: Texts, Concordance and Tables: The Director General Archaeological Survey of India.