Okay, kiddo, so imagine you have two friends - Sally and Timmy. Sally likes to shout really loud and Timmy likes to make funny sounds with his mouth.
Now, imagine we have a magic machine that can measure how loud Sally's shouting and Timmy's funny sounds are. When Sally shouts, the machine says "5" and when Timmy makes his funny sounds, the machine says "3".
But here's the thing - when Sally shouts really, REALLY loud, her sound waves start to mix with Timmy's sound waves and things get messy. Suddenly, the machine says "8" instead of "5" when Sally shouts.
That "8" is like the third-order intercept point. It's where the loudness of one signal mixes with the loudness of another signal and creates a new loudness that we weren't expecting.
In more technical terms, the third-order intercept point is a measurement of how much a device like a radio or a phone can handle two different signals at the same time without creating interference or distortion. It helps engineers make sure that their devices can handle lots of different signals and keep them separate so you can hear your music or make your calls without any problems.