I see the message, "You are temporarily banned from suggesting edits", when I try to suggest typo fixes I've seen. I presume this is because of the series of rejected edits I've made to the tag wiki. Is this true? Also, how long does this ban stay in place?
Users are banned from suggesting edits when they get their suggested edits rejected. In your case, the suggested edits were for tag wikis, and two of them were automatically rejected because the tag the wiki was referring was deleted or merged. The same applies to other suggested edits, if you still don't have the privilege for editing every post.
The standard ban lasts seven days. After that, the ban is removed, but it will be applied again the next time you get most of your recently suggested edits rejected.
That ban is for having too many rejected edits. Usually, you get these from trying to edit the tag wiki, as tag wiki edits gets (as a rule) far more rejections than other edits.
The ban will be automatically lifted in a week.
As I say in a comment to this question: Suggesting tag wiki edits is dangerous. They often get rejected, and sometimes for (at least to me) non-obvious reasons. If you want to keep your editing privileges, it is probably best to stay away from the tag wiki.
Yes I agree with Free Radical about such edits being dangerous (so +1 for it) ... But "Worse then not succeeding ... is to not have tried". And even if you fail, keep trying, just never give up. At best be a bit patient to be allowed again. I just discovered that "my" Temporary Ban on meta.stackexchange.com (= no edit suggestions of questions or tags allowed) was lifted again, after a 7 days timeout, so my "test environment" for Trying to improve a tag wiki while blocked causes incorrect 'This post has been deleted' no longer works "for me". Maybe Shawn Conn is willing to verify the same issue using "Drupal Answers" as the test environment now (and somehow confirm my suggested answer over there)?
Also funny (I think): I was banned for 7 days, and without doing anything (I couldn't because of the ban ...), my reputation went back up to only 1 below my maximum so far. My points went down quite a bit, because of 1 question + related answer there that got downvoted heavily (damage: -19-6 = -25 ...). I honestly don't care about what SE calls "reputation" (ie "points"), that is not why I contribute to any SE site (trust me).
I'm considering yet another approach over there to get my "editor stats" balance over there in "better" shape again. Right now the balance is "33 edit suggestions approved, and 24 edit suggestions rejected". Just in case anybody want to "judge" that ratio: make sure to carefully analyse the actual rejection details ... Maybe also consider some App (on StackApps) to help you on it, but don't get burned like in the question with my suggested edit for it. Note: 'all' (=1) my suggested edits over there are approved, with a 0% rejection rate ...).