It's an image of the hanged man and supposedly comes from the oldest-known Tarot pack - thought to have been made for the French king Charles VI in 1392. The similarity to the medieval depiction of Judas is what struck me - namely the red hair of the character along with the bags he holds (moneybags?). The fact that Judas is thought to have hung himself also correlates - although I'm guessing he hung himself by the neck and not upside down by the ankle. Maybe the upside down portrayal is meant to indicate that he's an inversion of Christ.
