What:

The Earth

Components:

1. Blue circle (Oceans) 
2. Wavy green path (Continents)

The AI says:

This SVG code provides a simplified, stylized depiction of the world. The large blue circle serves as the Earth's water bodies, representing the oceans that cover most of the planet. Superimposed on this blue circle is a green, wavy path, standing in for the continents.

While this depiction is highly abstracted, it communicates the essential features of the world – land and water – in a visually appealing and recognizable way. The contrasting colors represent the natural difference between land and sea, and the wavy path, while not geographically accurate, suggests the irregular, intricate shapes of the world's continents. It's a pared-down but effective visual shorthand for the world.