Meaning
Two katakana characters reading koko, the Japanese word for here, set on a square button. It means here, this place or this spot.
People use it to point at a location, a pinned message or the exact spot on a map: “Lunch is 🈁, second floor, by the window” Since few readers outside Japan can read katakana, it works best next to 📍 or 👇 so the meaning is clear.