"Plunger" is the generic name for a signalling-related button not inside a signal box. You also see them variously for Close Doors, Train Ready to Start, and Right Away, though they might key switches instead or hidden in locked boxes so the general public don't use them. It's perhaps a bit concerning that this one looks to be positioned where anyone can press it, but has the safety-vital function of confirming train out of section and could allow a following train to be let into the same section. However, the wording above indicates that the guard should phone through as well, which provides a backup.