These are exactly how they sound. Pants you wear during your period. They are particularly good if you have a light to medium flow and catch your blood and absorb it like a pad. They can be washed and reused as many times as you like. Like pads, you can get many different absorbencies. These can be particularly good for doubling up with another form of period product for exercise such as a tampon. They also come in many different colours, too.
They hold about as much blood as a regular pad. They might seem expensive but because they are reusable they are affordable in the long run.