A "curve" is a function [itex]c:A\rightarrow M[/itex] where A is some interval of real numbers and M is the spacetime manifold. "Timelike" means that if we call the tangent vector v and the metric tensor g, then g(v,v)<0 at all points on the curve. (If we define the metric with a +--- signature instead of -+++, it's ">" instead of "<"). "Closed" means that c(t+T)=c(t) for some real numbers t and T such that both t and t+T are in A.
A timelike curve is the type of curve that can represent that path of a massive object through spacetime. If it's closed, the object will meet a younger version of itself at some point.
Edit: I should probably add that the condition g(v,v)<0 can also be written
[tex]g_{\mu\nu}v^\mu v^\nu<0[/tex]
and that in a local inertial frame, this is just
[tex]-(v^0)^2+(v^1)^2+(v^2)^2+(v^3)^2<0[/tex]