In the Western Church today is Thursday of the Octave of Easter, the eight days during which the Church celebrates and ponders the mystery of the Lord's death and resurrection. In the Christian East, this week is celebrated as Bright Week.
The icon has its origin in the image known as the Harrowing of Hell.
In the Christian East, the imagery of what came to be the Resurrection icon embodies the Easter Troparian, (the musical 'icon' of the Resurrection sung in a variety of languages and melodies throughout the Byzantine Churches during the Easter Season.)
Christ is risen from the dead! Trampling down death-by-death!
And upon those in the tombs bestowing life! (3x)