reins
鞗 centers on the straps used to guide a horse: reins. The meaning is narrow and concrete, with no clear abstract extensions.
鞗 combines 革 (leather) with 攸, which likely contributes the sound. The character is built around the idea of leather straps used as reins.
The outer shape 攸 wraps around 革 (leather). Picture leather straps being pulled through a guiding frame: those straps are the reins.
For チョウ, imagine a long leather rein named Chou: Chou -> チョウ, and the rein guides the horse.