Looking for the Latest Urban Legends?
Try: Urban Legend Zeitgeist

As if there's an easy explanation. Sample alt.folklore.urban for yourself (beware: some residents are reputed to have social skills that differ slightly and/or significantly from socially accepted norms) or try the archive of group-specific material here.

It's an ampersand.

Peter van der Linden and Terry Chan seem to think in their alt.folklore.urban FAQ:

"An urban legend:

• appears mysteriously and spreads spontaneously in varying forms
• contains elements of humor or horror (the horror often "punishes" someone who flouts society's conventions).
• makes good storytelling.
• does NOT have to be false, although most are. ULs often have a basis in fact, but it's their life after-the-fact (particularly in reference to the second and third points) that gives them particular interest."

Read for yourself: