According to Volkswagen: "The rules for indicator lights are the same for traffic lights: If itâ€™s yellow, be cautious and check it out as soon as possible. If itâ€™s red, pull off the road safelyâ€”then stop the engine and call for assistance."
You can find more information about the dash lights on your 2012 Volkswagen Beetle at the following link: http://www.vwserviceandparts.com/service/volkswagen-dashboard-indicator-lights/
I'm not exactly sure what you are describing, but if the circle is yellow, looks like a gear, and the line looks like an exclamation point, then it might be indicating a transmission malfunction. If the circle is red and the line looks like an exclamation point, then you might be having a brake malfunction.
If you are not able to identify your light using the link above, please find an AskPatty Certified Repair Shop at http://www.askpatty.com/search/?type=all&m=30&q=&keyword= and they can help you diagnose and repair the problem.