It stand for LIGHT EMMITING DIODE (LED). It's a semiconductor. Basically, It's a diode but it's working is different than diode. It emits light and the color of it depend on the material that used to make it. It has to parts one is the positive (anod)and the other one is negative(cathod). when we flow current from it's +ve side led right is turned on but if we reverse the flow of current it doesn't current on.