The term originates from the drug dealing world, and is used to describe inexpensive mobile phones designed for temporary use. It allows fraudsters and criminals to link an account to a disposable phone number, for instance to bypass 2FA.
Today, phone numbers can be generated via burner phone apps or services. These work like prepaid phone cards, only allowing you to use them for a limited amount of time before being recirculated. Because they go through your phone’s original cellular data, they can be traced.