Plain English Meaning
Picture a tight string running from your wingtip down to a spot on the ground. As you fly the maneuver, you keep that imaginary string straight and tight by adjusting your altitude so the wingtip never appears to slide off the spot.
Full Definition
A visualization used in eights-on-pylons training in which the pilot imagines a straight, tight line extending from the airplane down to a fixed point on the ground (the pylon), with the line acting as if it were a rigid rod that holds the wingtip locked on the pylon throughout the maneuver.
Context Anchor
Used when learning eights on pylons, a ground-reference maneuver where the pilot turns around selected points while judging the airplane’s position by sight.
Derivation
Taut means pulled tight, with no slack. The image of a tight string conveys the idea that any of the wingtip off the pylon means the 'string' has gone slack, signaling the pilot to correct altitude.