Example: if the image name is set to s/smiley and the image component is set to core, the image file dirroot/pix/s/smiley.gif from your Moodle installation folder is used to display that emoticon.
Example: if the image name is set to s/smiley and the image component is set to core, the image file dirroot/pix/s/smiley.gif from your Moodle installation folder is used to display that emoticon.