Carl Jung interpreted the Ouroboros as having an archetypical significance to the human psyche. The Jungian psychologist Erich Neumann writes of it as a representation of the pre-ego "dawn state", depicting the undifferentiated infancy experience of both mankind and the individual child.
Pretty interesting stuff, eh? Personally, I've always wanted an oroboros tattoo since Scully got one on The X-Files, but that's another tail for another time. (Get it? Tail? Eh, nevermind...)