Help-me identify this component & it's value

Hi,
I just disassembled a non-working power supply.
I think this is a capacitor but google didn't help me much in verifying that:

It's written on it "2R2 06" with a symbol, that looks like the letter's 'M' inside a 'C', in between.

Is this a capacitor? If yes, what's it's capacitance?

Do you measure resistance between the two leads?

It has no resistance, and it's not a diode too.
It may be burned since the power supply wasn't working for some reason.

It could be a capacitor but it could be an MOV.

A good working MOV is supposed to be conductive? When measured with the multimeter continuity function.

A good MOV should have extremely high resistance, if not infinite.

Some DMMs have a capacitor check function built in.

I measured the resistance again and it shows about 2 Ohms, first time I thought it was nothing because of the conductivity test, I forgot that the conductivity test only doesn't "beep" when the resistance is above a certain value.
This seems to be a thermal resistance then...

If you measure 2Ω the 2R2 means 2.2Ω.

Then must be it! The value measured varies a bit, the multimeter doesn't have an excellent precision.
But the value shown is around 2.7 Ohm a varies a bit.

Thanks a lot for your time larryd!

Does the resistance vary if you heat it with a soldering iron?

Yes it does

Google thermistor.

I would guess it is a PTC (Postitive tempco resistor, Don't know why it's not PTR)

Typically they have a low resistance at room temp as they heat up they will suddenly change to high resistance.

They act something like a re-settable fuse, only switching to high resistance if too much current is passed through it.