The subject of innumerable jokes & puns this is one of the startline flags. Basically if you see this and there are no cars ahead of you, it means you have won! or statistically more probable you have at least finished your race/practice.
The considerations are, firstly do not get carried away, slow down gently, acknowledge those very helpful marshal chaps (and chapesses) and proceed slowly back to the paddock/pits or wherever you have been told to go.
It is not a good idea to miss the chequered flag, to carry on racing after it will result in yet another interview with the Clerk of the Course, by now you won’t need a map to get to his office if you have not heeded the advice in this site!