Toyota Logo History

I own a Toyota Camry and never gave much thought to what the logo meant. From far it looked like a T to me, which stood for Toyota. While doing the research for this logo, I found out that it is actually three elipses depicting the heart of the customer, the heart of the product, and the ever-expanding technological advancements and boundless opportunities that lie ahead. I finally found the official explaination from Toyota, thanks to JoAnn Paules

The current Toyota Mark consists of three ovals: the two perpendicular center ovals represent a relationship of mutual trust between the customer and Toyota.  These ovals combine to symbolize the letter "T" for Toyota.  The space in the background implies a global expansion of Toyota's technology and unlimited potential for the future.

http://www.toyota.co.jp/en/vision/traditions/nov_dec_04.html
One website even described it as a cowboy with a big hat.