Picot is one of the basic crochet stitches that a beginner should learn. Here you can find a photo tutorial in each step to guide you in your crochet journey.
Picot stitch usually used on thread crochet projects as a decorative edging. You may rarely see it on yarn projects but still you use it though.
Picot has no abbreviation.
In an international book that uses symbols, read it like this or you may see it to be this way....
Chain 3 from the point where you want to create the picot stitch,
insert hook in two upper st of specified stitch as shown in photo below,
yarn over and draw the yarn through the stitch,
One Picot made