When Google announced the launch date of the Google Page Experience Update it also said that they may launch a label or indicator in the search results to convey to the searcher which pages do well with those metrics. We saw Google testing this icon a while back as well. But keep in mind, this indicator may never launch.
Martin Splitt from Google confirmed yesterday that this label may never become a reality. Martin said on Twitter "Can I re-emphasize that the badging is an experiment? It may not happen in the end. We are looking into options here, that's it."
Can I re-emphasize that the badging is an experiment? It may not happen in the end. We are looking into options here, that's it.
— Martin Splitt (@g33konaut) January 13, 2021
Here is a screen shot of the test showing the icon:
Personally, I am not a huge fan of these indicators. Most searchers have no clue what they mean and may be confused by the icon. Google wants to encourage site owners to make sure they hit these metrics, hence why they dangle ranking benefits for it and also a possible label in the search results. But again, will the label confuse searchers? Most searchers have no clue what the AMP icon means even today.
Forum discussion at Twitter.