Plain English Meaning
It is a way of practicing engine-failure flying where the instructor pretends one propeller has been feathered. The engine is throttled back to a setting that produces about the same drag as a feathered prop, but it stays running so it can be used again right away if needed.
Full Definition
A training condition in a multiengine airplane in which one engine is intentionally set to a low-power, low-drag configuration to imitate the aerodynamic effect of a fully feathered propeller, without actually shutting down the engine or feathering the blades. Typically achieved by reducing power on the selected engine to zero thrust as published in the aircraft flight manual, allowing the pilot to practice single-engine handling while keeping the engine running and .