Pesticide formulation is basically how people make bug spray so that it can kill bad bugs without hurting good bugs or people. Just like how you follow a recipe to make cookies, people have to follow a recipe to make bug spray.
The first thing you need is the active ingredient, which is the chemical that actually kills the bugs. It is like the flour in the cookie recipe. Different types of bugs need different active ingredients to be killed, just like different cookie recipes need different ingredients.
After getting the active ingredient, people have to figure out how to mix it with other things to make it strong enough to work but not too strong that it hurts the good bugs or people. So they mix the active ingredient with things like oil or water, just like how you mix sugar and butter with flour to make cookie dough.
Then they have to figure out how to make the bug spray last long enough to work. So they add things like preservatives or sticky stuff that keeps the spray on plants or bugs, just like how you put the cookies in a jar to keep them fresh longer.
Finally, the bug spray has to be packaged in a way that makes it easy to use, like putting it in a spray bottle. And just like how you have to be careful when making cookies not to eat the raw dough, people have to be careful when making and using bug spray to not get hurt by the chemicals.