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Commonly but erroneously explained as a person standing with their arms at their side to look small. This error can be attributed to the actual etymology of the character for big, which is of a person holding their hands outstreched trying to look large.
This character is actually a stylized representation of three small points, as is clear from the older version (which sort of looks like ,',). Some scholars feel that this represents one large item being divided into two small ones.