Jaywalking refers to a pedestrian who violates traffic regulations and crosses the street when it is not their right of way, like when the hand signal is on display for them, but they dash across the street anyway because there are no cars. The term also refers to pedestrians who cross the street outside of the crosswalk. Like when a person parks halfway down the block and crosses the street from their car to the bookstore on the other side of the street.
Do not forget that jaywalking is actually illegal here in California, no matter how many times you have gotten away with it, and no matter how many thousands of people jaywalk every day. If the cops ever decide to stop and cite a person for jaywalking, they will be given the infraction and a fine. It is not often that the cops will dish out jaywalking infractions, but it can and does occur from time to time. You may have jaywalked hundreds of times without getting in trouble with the cops, but there is always that small chance that one day, they will fine you.