QRP is the Q-signal for "shall I reduce power", but is regularly used to refer to low power amateur radio stations using less that 5 watts CW or 10 watts SSB. Why would anyone want to use such low power levels when they can legally run much more? The first reason is according to Part 97 of the FCC rules, amateurs should use only enough power to successfully make a contact. Second, there is nothing more satisfying or rewarding than making a contact thousands of miles away using barely enough power to light a christmas tree light bulb.
It always puts a smile on my face when a DX stations returns with "5 WATTS ?????", or when I throw my call out in a big pile up and get picked up before all the QRO stations.