彧 is best known today as a personal name, above all 荀彧, the celebrated strategist who served 曹操 in the late Han. The character means cultured and elegant, a fitting name for a refined scholar.
Right is the streaks radical 彡, three flowing strokes used for pattern, sheen, and ornament. Added to the body it conveys polish and elegance — the cultured, refined sense of 彧.
The left and main body is an 或-shaped frame — a 戈 enclosing a small mouth and stroke. Here it is not 'or'; it carries the idea of something marked out and well-formed, the base on which the pattern strokes sit.