Now mostly a name element: 匈奴 (the historical Xiongnu confederation) and 匈牙利 (Hungary). It is an older written form of 胸 (chest), but for the body part modern Chinese always uses 胸.
The wrapping 勹 enclosure is the indexing radical. It curves around the inner element, its two strokes split across the stroke order: the opening hook first, the closing sweep last after the inside is written.