U+2702 ยท emoji since 2010
The scissors are an open pair of shears, the icon for cut. They mean crafts, haircuts, and cutting things out, literally.
Figuratively they cut ties, trim the budget, and snip away whatever no longer fits, plus the classic cut-here line.
In texting, โ๏ธ does not carry a widely used hidden or slang meaning, so you can usually take it at face value. People send it just as it looks, to add a little visual touch or set the mood of a message. Only a handful of emoji have a separate texting code, and โ๏ธ is not really one of them.
Its official Unicode name is the Scissors emoji. In everyday chat most people just call it the scissors emoji or describe what it shows. Copy and paste it from the button at the top of this page.
The โ๏ธ leads off a short phrase, and the rest of the words are written in cipher, every letter disguised as another emoji. Tap decipher to reveal the whole line.
Or make your own cipher in the translator.