Meme parodying Clickbait YouTube thumbnails and other social media posts by including a red circle and an arrow pointing towards it in order to emphasize a usually already emphasized part of an image, point out the obvious, or nothing at all.
Sometimes also used to imply whatever's in the circle and what's pointing to the circle are the same thing, such as in the case of name soundalikes, or to indicate that a character is responsible for an action.