I'm trying to understand what would be the subobjects of $\{0, 1\}$.
Would they be $\{\emptyset, \{0\}, \{1\}, \{0, 1\} \}$?
Or are $\{0\}$ and $\{1\}$ somehow identified together? Because I can map from 0 to 1 and backwards - which tells me they're a part of the same equivalence class.
And what's stopping me from picking $\{7\}$ as a subobject, based on this definition? There was a similar answer from a while ago, but I fail to see how it answers the questions I'm posing above.
I preassume that you are looking at set $\{0,1\}$ as an object of the category of $\mathbf{Sets}$ here.
Object $\{0,1\}$ has $4$ subobjects.
Each of them is a class of of injective functions that all have $\{0,1\}$ as codomain.
If $m$ denotes the unique arrow $\varnothing\to\varnothing$ then $\{m\}$ is a subobject of $\{0,1\}$.
The class of functions $\{a\}\to\{0,1\}$ where $a$ is sent to $0$ is a subobject of $\{0,1\}$.
The class of functions $\{a\}\to\{0,1\}$ where $a$ is sent to $1$ is a subobject of $\{0,1\}$.
The class of injective functions $\{a,b\}\to\{0,1\}$ with $a\neq b$ is a subobject of $\{0,1\}$.