One OFDM symbol, always sent at 6 Mb/s with BPSK and rate-1/2 coding so that any receiver can read it. Tells the receiver the rate and length of what follows.
This field is why a station that cannot decode a transmission can still defer for the right amount of time — RATE and LENGTH together give the duration. It is also a single point of failure: corrupt the SIGNAL field and the whole PPDU is lost even if the DATA field was received cleanly.
non-HT PPDU > SIGNAL field