I know the literal meaning of 'you understand', but this sentence in the context below seems to have another meaning. Here is the example, which is from a novel 'Baker's blue-jay yarn' by Mark Twain.
It was a knothole in the roof. He cocked his head to one side, shut one eye and put the other one to the hole, like a 'possum looking down a jug; then he glanced up with his bright eyes, gave a wink or two with his wings - which signifies gratification, you understand - and says, 'It looks like a hole, it's located like a hole - blamed if I don't believe it is a hole!'