Hi there randomtitle,
Thanks for reaching out to the Apple Support Communities. We understand you're seeing an iCloud status icon showing a cloud with an arrow, and we'd be happy to provide some information on this for you.
To get started, the icon that you're seeing may indicate that the file or folder is only in iCloud. For more details, check out this link here: Get file, folder and disk information on Mac - Apple Support
If you've downloaded the files and folders, but are still seeing the icon next to those items, check out this additional link for more help: Access iCloud Drive files from your iPhone and other devices - Apple Support
Let us know how that goes.
Have a great day!