Plain English Meaning
Sometimes the approach chart shows a racetrack-shaped holding pattern instead of the usual procedure turn. You fly around that racetrack at least once to get yourself turned around and lined up with the final approach course, then continue inbound.
Full Definition
A charted holding pattern used in place of a procedure turn to accomplish course reversal on an instrument approach. When depicted on the approach chart, the pilot must fly at least one circuit of the holding pattern to align with the inbound course before continuing the approach, unless cleared otherwise by ATC. The pattern is flown at the published altitude and within the protected airspace shown on the chart.