OK. I'll keep this simple. The simple answer is that the Earth is spinning and is not perfectly solid. Like the pizza dough, the Earth tends to flatten out a bit because of this spinning.
What the Earth does (and what the spinning pizza does) is to change shape in a manner that minimizes the total energy of the Earth (or pizza). If the Earth were not spinning, the only source of energy would be the Earth's gravity. Gravity radiates spherically, so this minimum energy configuration would be a sphere. Any deviations from purely spherical would create an Earth with more potential energy than the purely spherical form. The spinning adds another energy source, kinetic energy. This extra source of energy makes it so the shape that minimizes the energy and conserves angular momentum is no longer a sphere. It is instead an oblate ellipsoid.
This represents two very key concepts in physics. The concept of a system moving toward the minimum energy configuration is called Hamilton's principle. Conservation of angular momentum, along with conservation of linear momentum and conservation of energy, are cornerstones of a lot of physics and engineering.