For Christians, the Triquetra represents the Trinity: Father, Son, and Holy Spirit--three persons as one God. Its three equal arcs represent equality, its continuous line expresses eternity, and the interweaving represents indivisibility.
For pagans (witches included), the Triquetra represents the threefold nature of the Goddess as virgin, mother and crone. It symbolizes life, death, and rebirth and the three forces of nature: earth, air, and water. The inner three circles represent the female element and fertility.