One receiver is designated as crossing over the other while the opposite receiver runs underneath of his route. The "traffic" that is caused by multiple defenders and receivers gives the quarterback defined reads after the receivers break to the opposite side of the field.
Against man coverage, the two defenders are forced to chase from behind and are likely to get picked or rubbed while chasing.
The "mesh" terminology is common in the Air Raid playbook, but the play exists in the West Coast Playbook as well. Against zone coverage, the receivers read where the defender's areas begin and end, and sit in between them.
Outside References
2) Air Raid Playbook - The Mesh
3) Texas Tech Air Raid - Pass Play 92 (Mesh)
4) Jets 92 Mesh
5) Mesh Play, Shallow Package - A Simple Yet Devastating Attack
6) Mesh Variations
7) Valdosta State Air Attack
8) The shallow cross, drag, and drive in the west coast and spread offenses
9) Oregon vs Michigan State Preview: Ducks Vertical Passing Game
10) Rethinking "MESH"