Yigal Ben Efraim

Caret is an inverted V-shaped grapheme. Specifically, caret commonly refers to the spacing character ^ in ASCII (at code point 5Ehex) and other character sets that may also be called a hat, control, uparrow, or less frequently chevron, xor sign, to the [power of], fang, shark (or shark-fin), pointer (in Pascal), or wedge. Officially, this character is referred to as circumflex accent in both ASCII and Unicode terminology (because of its historical use in overstrike), whereas caret refers to a similar but lowered Unicode character: U+2038 ‸ caret. Additionally, there is another lowered variant with a stroke: U+2041 ⁁ caret insertion point

The caret was originally used, and continues to be, in handwritten form as a proofreading mark to indicate where a punctuation mark, word, or phrase should be inserted in a document.

In math the caret signifies exponentiation, e.g. 3^2 for raising 3 to the power of 2.