Plain English Meaning
Weather that is just barely good enough to fly by looking outside. The clouds are low and the air is hazy, so a pilot can legally fly visually but has very little room for error.
Full Definition
Weather conditions in which visual flight is still legally permitted, but visibility and cloud ceilings are reduced to the lower end of the Visual Flight Rules range — specifically, a ceiling of 1,000 to 3,000 feet and/or visibility of 3 to 5 statute miles. These conditions are abbreviated MVFR on weather products.
Context Anchor
You will see this term when checking weather reports, , or training scenarios before deciding whether a is a good idea.