Ganishka: How many layers of tentacle rape are you on?
Salem : I dunno, maybe 5 or 6, I guess?
Ganishka: You are like a little baby. Watch this.

S H I V A

The context, more or less, is that Salem is the Big Bad of RWBY. We as the audience don't know much about her, other than that she's thousands of years old, has seemingly perfect control over the Grimm (negative emotions taken physical form, and other bad stuff), wants to rule and/or destroy the world with Grimm, or something like that. We also don't know her motives all that well.

But there's a particularly interesting bit about her character and backstory, and I think this image is meant to emphasize that part. She and her archnemesis, the Big Good of RWBY, Ozpin aka Oz, have a long history of fighting over the fate of humanity. At this point, Salem has been winning for a long time, and the only reason she hasn't won completely is because Ozpin still stubbornly inspires hope in people. This has gone to the point where she truly and actually believes that the world would be in a much better position if Ozpin and the rest of humanity just gave up and let her get on with the bad stuff already. Her leitmotif, Divide, is basically entirely about her saying, "Ozpin is evil because he gives people hope".

In this image, Salem has finally won, and is flipping the bird because f*ck Ozpin for prolonging her absolute victory. F*ck Ozpin and the rest of Remnant, f*ck them with Grimm tentacles.