Plain English Meaning
The button you press to undo what you just typed, close a menu you opened by mistake, or jump back to the main map screen.
Full Definition
A control on a Garmin G1000 (or similar glass cockpit) bezel that cancels the current entry, removes a selected item, or backs out of a menu or page without saving changes. A press-and-hold of the CLR button typically returns the display directly to the default navigation page (the map page).
Context Anchor
Seen when using an MFD or other cockpit display to move through page groups, menus, messages, or selected data fields.
Derivation
CLR is simply a shortened label for '', kept to three letters so it on a small bezel button. 'Clear' here carries its everyday sense of 'remove' or 'wipe away' -- you are clearing the entry the screen.