A sudden rotation of the car's rear end caused by abruptly releasing the throttle while cornering. The rapid forward weight transfer unloads the rear tires, reducing their grip and causing the back of the car to step out.
The HPDE student manual warns: "Suddenly lifting off the throttle (the natural tendency) will transfer weight off the rear tires, reducing their traction, increasing the slip angles and the oversteer. This little exercise in futility is called Trailing Throttle Oversteer or merely TTO. TTO can be induced by lifting off the throttle while turning. This might be useful for autocrossing but don't do it on the track." Bentley adds in Ultimate Speed Secrets: "Lifting off the throttle in a corner (trailing throttle oversteer) causes the weight to transfer forward, making the rear end lighter, thus reducing rear wheel grip." Going Faster! (Lopez) describes the snap physics: "If the driver snaps his foot off the throttle, the weight lurches forward, giving the front tires more bite to steer with just as the weight shifts off the rears, reducing their grip and causing them to skid wide. This is lift-off oversteer." The cure is smooth throttle modulation — never abruptly release the throttle mid-corner.