Okay kiddo, let me try to explain this to you.
You know how sometimes people get special titles for doing really important or impressive things? In Canada, some people can become peers or baronets.
Peers are people who have been given a title of nobility by the government. They are sometimes called lords or ladies. You might have heard of the House of Lords in the United Kingdom - that's kind of like what we have in Canada with our peers.
Baronets, on the other hand, are people who have been given a special hereditary title. This means that the title can be passed down from generation to generation within a particular family. Baronets are usually known for their charitable work and contributions to society.
So basically, being a peer or a baronet in Canada is a way of recognizing someone for their achievements or contributions to the community. But don't worry too much about it yet, there's plenty of time to learn more about this as you grow up!