Simply put, it is an Easter egg decorated using a wax resist. Its' name is derived for the Ukrainian verb "pysaty," meaning "to write".
But it is much more than that. Ukrainians have been decorating eggs, creating these small jewels, for many generations. There is a ritualistic element involved, magical thinking, a calling out to the gods and goddesses for health, fertility, love and wealth. There is a yearning for eternity, for the sun and stars, for whatever gods that may be.
The design motifs date back to pre-Christian times. A triangle that once spoke of the three elements, earth, fire and air, now celebrates the Christian Holy Trinity. The cross which depicted the four cardinal directions is now the symbol of the risen Christ. Sun and stars symbols once referred to Dazhboh, the sun god, and now refer to the one Christian God. Grapes now refer to holy communion. And the fish, which spoke of a plentiful catch and a full stomach, now stands for Christ, the fisher of men.