Okay so imagine you have a piece of paper. You can draw a dot on it, and that dot would be a "point". Then you can draw a line that goes through that point, and that would be a "curve" or "line". Now, what if you draw a curve that goes through that line and the original point? That's called a "surface". Finally, if you draw another curve that goes through that surface and the original point, you get a three-dimensional shape called a "threefold".
Now, there are different kinds of threefolds, and one of them is called a "quintic threefold". That's just a fancy name that means it has a very special kind of curve on it (called a "quintic curve") that has degree 5. Degree just means how complicated the curve is, like how many twists and turns it has.
Why is the quintic threefold important? Well, mathematicians like to study these kinds of shapes because they can tell us interesting things about the geometry of our universe. And the quintic threefold is especially interesting because it has some cool properties, like being smooth (which means it's nice and round) and having a lot of symmetries.