When you look at something, your eyes have two jobs to do. One job is to figure out what the thing is - like a cat, a chair, or a flower. This is called the "what" job. The other job is to figure out where the thing is in the world around you - like if it's close to you or far away. This is called the "where" job.
The two streams hypothesis is about how your brain processes this information that your eyes send to it. It says that there are two different paths, or streams, that the information travels through in your brain.
One stream is the "what" stream, and it helps you figure out what the thing is that you're looking at. This stream goes from your eyes to the back of your brain.
The other stream is the "where" stream, and it helps you figure out where the thing is in the world around you. This stream goes from your eyes to the top of your brain.
So, when you look at something, your eyes send information to two different parts of your brain. One part helps you figure out what the thing is, and the other part helps you figure out where it is.