$
in jQuery is just a JavaScript variable name;
var $ = 5;
Or if you want to add functionality
var $ = {};
$.myMethod = function(){
console.log("Hello");
};
See this book section about namespacing and modules.
What jQuery does in its source code:
// Expose jQuery to the global object
window.jQuery = window.$ = jQuery;
They just assign an object reference to the object jQuery
to window.$