What does the symbol mean?

Vegvísir is an Icelandic symbol with magical powers which are intended to help the bearer find their way through rough weather. There is only a single leaf of manuscript which documents this sigil in the Huld Manuscript (collected in 1847 but dating from much earlier). Along with a drawing of the sigil (as seen on the garments), accompanied with it’s name, there is a single line to describe it:

“If this sign is carried, one will never lose one’s way in storms or bad weather, even when the way is not known.”