It'll work similarly to the "Skip Intro" or "Next Episode" prompts you already see on Netflix. Meyers, who brought the idea to Netflix, told CNN the button is just "another joke in the special" and shouldn't be taken too seriously. In fact, he doesn't think many folks will actually use it.
Netflix has tried out other interactive features, such as with Black Mirror: Bandersnatch and the Minecraft: Story Mode game. While the Trump joke button might not have quite the same level of complexity, it's a fun use of Netflix's tech that's unlikely to cause as much commotion as its test of variable playback speeds.
You'll be able to try the button when Lobby Baby hits Netflix Tuesday. More broadly, it's worth considering whether Netflix will adopt a "Skip Scene" button for other purposes. Earlier this year, it warned Our Planet viewers about possibly upsetting scenes they might want to zip past. It's not impossible to imagine Netflix adding a button to skip potentially distressing sections of shows or movies.