Peirce's semiotic triangle is a model that explains how meaning is created and understood through signs. It consists of three components: the sign, the object, and the interpretant. The sign is the representation or symbol, the object is what the sign refers to, and the interpretant is the understanding or meaning derived from the sign. This triangle illustrates that meaning is not inherent in the sign itself but arises from the relationship between these three elements. For example, a word (sign) represents a concept (object), and the reader's understanding of that word (interpretant) completes the process of meaning-making.