Okay kiddo, so a really long time ago, people wrote on something called papyrus instead of using paper like we do now. And one day, a bunch of old papyrus was found buried in the ground in a place called Oxyrhynchus in Egypt.
Papyrus Oxyrhynchus 1 is just one piece of that old papyrus that was found. It has some words written on it in an ancient language called Greek.
Now, some really smart people called scholars study this papyrus to try to understand more about the past and what people used to think and do. Sometimes they find important information or stories that they didn't know before.
So, even though it might not seem like much to us, Papyrus Oxyrhynchus 1 is actually really cool because it helps us learn more about the history of the world!