Okay kiddo, imagine you and your sister each have a bag of toys. Sometimes you both want to play with the same toys, but there aren't enough to go around. So, your parents came up with an idea to make it fair. They decided that on odd-numbered days (like the 1st, 3rd, 5th of the month), you can play with the toys in your bag, but your sister can only watch. On even-numbered days (like the 2nd, 4th, 6th of the month), your sister can play with her toys, and you have to watch. This way, you both get a turn to play with your toys and it's fair for everyone.
Now, let's say you apply that same principle to something else, like filling up your car's gas tank. Sometimes, there are shortages of gas or there's a big problem that makes it hard for people to get enough gas. To make sure everyone gets a chance to fill up their tank, the government might say that on odd-numbered days, cars with license plates that end in an odd number (like 3 or 7) are allowed to buy gas. On even-numbered days, cars with license plates that end in an even number (like 2 or 8) can get gas. This way, everyone has a fair chance to get gas for their car, and no one has an advantage over anyone else.
So, odd-even rationing is a system that helps make things fair by dividing things up between odd-numbered and even-numbered days or between odd-numbered and even-numbered groups. It works kind of like taking turns - every other day, a different group or person gets a chance to do something.