Just like any other sport, disc golf has a ton of terms that are unique to the sport. This is by no means an exhaustive list, so post a comment if you think I missed one. My post on The Game might be a good read before this one if you're new to the sport.
Speed | A rating for how fast the disc will fly based on its shape and profile. More speed; more distance.
Glide | A rating for the aerodynamic lift of a disc as it flies. More glide; more time in the air.
Taco'd | Describes what happens to a disc when it comes into contact with an object (tree, pole, etc.) at high speed. The disc will fold up like a "taco" and this type of impact can change the flight characteristics of a disc.
Teepad | Describes the area used to start a hole. This is typically a concrete pad 3-4 ft. wide by 8-10 ft. long. Other materials are synthetic mats and bare dirt.
Snap | Refers to the sound made when a disc is released from a hard-thrown backhand. The fingers holding the disc actually "snap" together as the disc is released. The more snap a throw has, the more spin is imparted on the disc.
What did I forget? Post a comment and I'll get it added.