Confusing Warning Sign

Is this a warning sign, blue pedestrian signs in Aotearoa New Zealand are ... warnings? Or maybe informational.
With road signs it's very clear
Compulsory signs tell you what you must or must not do.

They are usually red or blue.

"usually', so they might be any colour you can think of. Anyway, the blue pedestrian sign is ambiguous but surely the symbol is clear ... so what would you do, not do, be ok the look out for?
Confusing Warning Sign

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