reins, halter, bridle
韁 centers on the gear used to control a horse: reins, a halter, or a bridle. All three meanings are specific parts of horse tack that guide or restrain the animal.
韁 combines 革 (leather) with 畺, which likely contributes the sound and may relate to boundaries or limits, fitting the idea of controlling a horse with leather straps.
The left side 革 means leather, and the right side 畺 looks like a series of straps or lines. Picture leather straps forming a bridle and reins to guide a horse.
For キョウ, imagine a horse named Kyo who wears a special leather bridle: Kyo -> キョウ, and the reins are made of fine leather.