Meaning
Two thick vertical bars side by side, the pause button. It means stop for now and continue later, a break rather than an ending.
It is a neat way to announce a break from social media, studying, a series or even an argument: “Taking a little ⏸️ from social media this week” It also means “hold on, wait a second”. Do not confuse it with ⏹️, which stops completely, or ♊, which has a similar outline.