This is the disparaging nickname that the Americans gave the PAL (Phase Alternate Line) system back in the day. It was in response to England referring to the yanks format as Never Twice The Same Colour while the frenchies SECAM was dubbed System Essentially Contrary to the American Method. Funny and interesting no? Well jog on then.
DVDs come in both Pal and Ntsc here at the buff but what we really need to worry about is the kind of copyright control over 'regions' of the world, North America being '1' and Europe being '2' etc. However, (ALL *edit) MANY DVD players can play any region DVDs. They just need to be "Unlocked"
disclaimer: Do this at your own risk neither I nor the buff will be responsible if you drop your remote in a cup of coffee whilst attempting this.
Simply find the brand and model number of your player and google it along with "region unlock code" i.e. "Sony DVR150 region unlock code", with a little time and research you can quite easily find a code for most players. This usually involves some sort of sequence of buttons you press on your remote, et voila. An all region player.
Edit* According to stellar dingleberry Tim Curry:
"About 1/3 of the DVD players made today are Universal, the other 2/3's being either exclusively PAL or exclusively NTSC. Even after the Region Code is hacked, the players in the later category cannot play DVD's from the the other format. You have to specifically get a Universal player for that. They are often refered to as "Multi-Region" players to make matters even more complicated"