Pants is a general term for an outer garment covering the body from the waist to the ankles, with a separate part for each leg.
In American English, pants refers to trousers, while in British English it typically means underwear.
The term "pants" also refers to:
1. Pants as a slang term meaning "bad" or "rubbish" (British usage)
2. Pants in the phrase "to wear the pants" meaning to be the dominant partner in a relationship
3. Pants as a verb meaning to breathe heavily (obsolete usage)