Sorry about the cryptic message.
Yes, the favicon is that blue blob thing (for this site) that some browsers show in the bookmark/favorites list and address window.
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It uses a special .ico extension graphics file format; if present in the webpage root directory as "favicon.ico" recent browsers will fetch and use it. One of the oddities of the .ico format is that several different sized graphics can be saved in the single file, many include 9 different size and color depth combinations although there doesn't seem to be a limit on how many you want to include... depending on the OS and where it's to be displayed the most appropriate version will be used. The different versions can all be different images too, although that would be pretty strange in practice.
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Regardless, does anyone know what it's supposed to represent - or have any funny theories at least?