In jQuery we can prefix variables that contain a jQuery object with a $, so that they are easily identified. Consider this example:

var $img = $(".someclass span.otherclass img");

/* somewhere later in the code */
$img.bind("click", function() {
   /*...*/
});

Kudos to https://stackoverflow.com/a/6209503

I have also seen this usage in Magento 2 in vendor/magento/module-sales/view/adminhtml/web/order/create/form.js

var $el = jQuery('#edit_form')

 

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