Okay kiddo, let me explain what Chinese Taipei means.
You know how there's a big country called China? Well, there's also a smaller island near China called Taiwan. Some people think that Taiwan is part of China, while others believe it's its own separate place.
There are also sports competitions like the Olympics where countries from all over the world come together to compete. But because of this confusion about Taiwan, the International Olympic Committee had to come up with a special name for Taiwan to make everyone happy.
So, they decided to call Taiwan "Chinese Taipei" instead of just Taiwan so that both people who think it's part of China and those who think it's separate would be represented.
And that's what Chinese Taipei is all about!