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An anime episode that centers around clips from other episodes of the series. Usually used as filler or as a way of recapping events of a long running series for new viewers. This is very common in many series.
Clip shows are often filler, using recycled animation to lengthen the episode count of a series, they sometimes include some new animation, usually centering around a main character telling a story of past events to someone else, or just reflecting on their own past experiences, but often there is not even any new animation, and the show is simply narrated by a main character, or even someone completely unrelated to the series' voice cast prior to the clip show.
Regardless these episodes are in general a way of saving money while still putting out a new episode that advertisers pay for product placement on,
Some series have been accused of using recycled animation far too often by many critics, Dragon Ball Z has often been criticized for dragging out storylines to the point of being a "glorified clip show" though that series has often animated the same scene from different angles, and is thus not truly guilty of this criticism.