It's called "Item Properties Icon" and can be disabled in the Interface tab of Options (uppermost tab on the right side). Just scroll down and uncheck the "Display Item Properties Icon"
You're welcome. That icon caused me some headache back in the time I was starting UO on freeshards. It's most likely that it got activated by replacing your corrupted profile, so here's an advice: If you have to remake your profile, go through all settings one at a time and check them, just to be sure it's like the one you had before it got corrupted.
