Lypsinka is a person, but she's also kind of like a character too, like when you put on a costume or play pretend. She's really good at pretending to sing and talk like other people, which is called lip syncing. Imagine if you were pretending to sing your favorite song, but you weren't really making any noise with your mouth, you were just moving your lips like you were singing. That's what lip syncing is.
Lypsinka is really good at lip syncing and she mostly dresses up like women from old movies and tv shows. When she lip syncs, she pretends to be those women, like she's playing a game of pretend. Some people think it's funny or entertaining to watch her pretend to be someone else, so she gets to perform in front of audiences and make people happy.
So basically, Lypsinka is someone who is really good at pretend singing and acting like other people.