Ok kiddo, a pullback bundle is like when you and your friend both want to play with the same toy. Your friend has the toy and you want to play with it too, so you ask your friend to share it with you. Your friend agrees and gives you the toy for a little while.
Now imagine the toy is actually a bunch of pieces put together and your friend has some of the pieces, but you need those same pieces to build your own toy. So you ask your friend if you can borrow those pieces to build your own toy. Your friend agrees and gives you the pieces you need.
That's basically what happens in a pullback bundle. There are two different toys (or bundles) that have some of the same pieces. One bundle is given to someone else (you), but you need some of the same pieces to build your own bundle. So you borrow those pieces from the other bundle and use them to build your own.
In math, a pullback bundle is when you have two different bundles and some parts of those bundles are the same. One bundle is given to someone else (like you borrowing the toy), but you need some of the same parts to create your own bundle. So you borrow those parts from the other bundle and use them to create your own bundle.