A lotus flower originally means lotus flower, but these days 蓮花 often refers to a small flower that looks like a lotus, called a Chinese milk vetch. It can also mean a ramen spoon, because those spoons you get with ramen have a unique shape resembling a lotus petal.

Keep in mind that you might also see it written as 蓮華, or just in kana as れんげ or レンゲ.

This is a jukugo word that uses the on'yomi readings of the kanji. You didn't learn this reading for 花 yet, so here's a mnemonic to help you:

Something is on the lotus flower... something little and kinda shiny. It's a little gecko (げ). It's hiding in the lotus and trying to catch flies. How cute!