This symbol when depicted in paintings, relates to Water Dreamings. It signifies the source of water, life and fertility in the artists country.
In some cases the artist will feature underground water holes in their country to show the abundant supply of water, life and fertility.
Where there is water, there is life within the desert.
As described by Janet Long Nakamarra
Sometimes people would travel along the dry river bank and find certain areas where there is green grass and that tells there is water in the area. Where it is green and moist after a rain. Sometimes people would tell when they see little white flowers blooming along the dry area, but it tells that there is water there.