Firehose instability is like when you play tug of war with your friends and the rope suddenly starts to slip out of your hand.
In space, there's something called plasma which is like a gas made out of electrically charged particles. Some places in space have a lot of plasma and sometimes the magnetic field of a planet or star can push on the plasma, kind of like how your hand is pushing on the rope in tug of war.
But when the magnetic field is too weak, the plasma starts to push back like when your friends start pulling the rope really hard and the rope starts to slip out of your hand. This pushing back from the plasma makes the magnetic field wobble and become unstable, like when the rope starts to slip out of your hand in tug of war.
This can cause some problems because the plasma can start to flow in all different directions instead of following the magnetic field like it's supposed to. Imagine if your friends let go of the rope completely and the rope goes flying in all directions - that's what happens in space when firehose instability occurs.