Plain English Meaning
Steering the nose left and right with the rudder pedals so the airplane flies straight and doesn't slip or skid sideways through the air.
Full Definition
The pilot's management of the airplane's rotation about its vertical axis, accomplished primarily through use of the rudder pedals to swing the nose left or right and to keep the airplane coordinated.
Context Anchor
Used during attitude flying when holding straight flight, entering or leaving turns, climbing, descending, or correcting unwanted nose movement.
Derivation
Yaw' is an old nautical term meaning to turn or deviate from a straight course. It carried from ships to to nose movement around the vertical axis.