Plain English Meaning
The colored lights on the wingtips and tail of an aircraft that show other pilots where it is and which way it is pointing at night.
Full Definition
An exterior aircraft light, required to be displayed during night operations, used to indicate the aircraft's position and direction of travel to other pilots. Standard position lights consist of a red light on the left wingtip, a green light on the right wingtip, and a white light on the tail.
Context Anchor
Seen during preflight checks, night operations, and any discussion of aircraft exterior lighting.
Derivation
From Latin 'positio' meaning placement or location. The lights are called position lights because their colors and arrangement let another determine the position and of an aircraft they cannot otherwise see clearly in the dark.