That depends on whether you’re talking about the emblem as a whole, or its constituent parts. The national website, www.legion.org, has a page devoted to the subject and quotes of the complete emblem: "It stands for God and Country, and the highest rights of man. Of its several parts, each has a meaning."
"The rays of the sun form the background of our proud emblem and suggests the Legion’s principles will dispel the darkness of violence and evil.
The wreath forms the center, in loving memory of those brave comrades who gave their lives in the service of the United States that liberty might endure.
The star, victory symbol of World War I, also symbolizes honor, glory and constancy. The letters "U.S." leave no doubt as to the brightest star in the Legion’s star.
The larger of two outer rings stands for the rehabilitation of our sick and disabled comrades. The smaller inside ring denotes the welfare of America’s children.
The smaller of two inner rings set upon the star represents service to our communities, states and the nation. The larger outer ring pledges loyalty to Americanism.
The words American Legion tie the whole together for truth, remembrance, constancy, honor, service, veterans affairs and rehabilitation, children and youth, loyalty, and Americanism."
The Emblem page, www.legion.org/emblem, features free downloadable versions of all the emblems in the American Legion family, as well as frequently asked questions and how to ask for permission to use the emblem — you do need permission in certain instances.