If your vehicle has the Traction Control System (TCS) and has front-wheel-drive, this light will come on when the system is limiting wheel spin.
If your vehicle has all-wheel-drive, this light will come on when the all-wheel-drive system is protecting itself from overheating due to extended heavy all wheel drive usage.
You may feel or hear the system working, but this is normal. The roads may be slippery if this light comes on. Adjust your driving accordingly.
The light will stay on for a few seconds after the system stops limiting wheel spin. This light should also come on for a few seconds when you start your vehicle. If it does not, have your vehicle serviced.