If you opened up Instagram yesterday you no doubt saw your friends, celebrities, and influencers sharing this janky looking image on their feed. The text said that Instagram was going to be able to use your posts in court cases against you, and that, with this image, you do not give Instagram permission to use your photos, messages, etc.
This thing is not real. According to Mashable, the hoax dates back all the way to 2012 when it was debunked after making the rounds on Facebook, then popping up again every few years.
I suppose it's hard to resist reposting something like this when you see so many people on your feed doing it.