Plain English Meaning
TERPS is the FAA rulebook that procedure designers follow when building any instrument approach or departure. It tells them exactly how much room must be kept clear of obstacles, how steeply an aircraft can be asked to descend, and what minimum altitudes are safe. Every approach plate a pilot uses was built using these rules.
Full Definition
FAA Order 8260.3, titled United States Standard for Terminal Instrument Procedures (TERPS), is the official FAA document that prescribes the criteria used to design, evaluate, and approve all instrument approach, departure, and arrival in the United States. It defines the , dimensions, gradients, surfaces, and minimum altitudes that every published procedure must meet.