A bypass switch is a button or lever that lets you turn something off without completely unplugging it. Imagine you have a toy that is always on when you plug it in, but sometimes you don't want it on. You could unplug the toy every time you don't want it on, but that takes a lot of time and can be hard to reach - especially if the toy is in a hard-to-reach spot.
Instead, you could use a bypass switch. When you flip the switch, it will turn the toy off, even though it's still plugged in. This means you don't have to unplug it every time you want to turn it off, and you can easily turn it back on when you want to play with it again.
A bypass switch can be used for lots of things other than toys, too. For example, you might use a bypass switch to turn off a light that's controlled by a wall switch, or to turn off a fan that's plugged into an outlet. It's a really handy tool to have around!