Then I removed the bark and carved out an oval with a frame. The rune you can see is a so - called "bind-rune". Bind runes were found at Rök (Rune Stone) and on many artifacts. It might be that they were simply used to save space, such as abbreviations in our modern times, but also to express semiotic ideas, for runes always were ideograms, too. Of course, one could go as far as to postulate a magical use, too.
It´s very cool, for since I do not study runeology any more officially, I can do the heck what I goddamn please and state it´s for magical uses;-) and no teacher telling me otherwise;8-).
Hey, it´s artwork;-)! And it tells: Thurisaz, the thorn (of the blackthorn), the black giant, gives the twilight under the Yew´s (eihwaz) branches and leaves. The giant´s axe (or sword) of blackthorn´s needles fends off Evil and keeps the (runes) secrets (Straif) of the staff.
I made fun of my teacher, Prof. Dr. (em.) Else Ebel, "but I don´t mean it mean", for I owe her a lot actually. I recommend anyone interested in runelore reading a decent book beforehand before delving deep into the magical side of the art. I would recommend KLaus Düwel: Runes, Frankfurt a.M. 2001-2005, which gives an exact, academically correct overview on the topic.