What does it mean if a Python object is "subscriptable" or not?

It basically means that the object implements the __getitem__() method. In other words, it describes objects that are "containers", meaning they contain other objects. This includes strings, lists, tuples, and dictionaries.

Off the top of my head, the following are the only built-ins that are subscriptable:

string:  "foobar"[3] == "b"
tuple:   (1,2,3,4)[3] == 4
list:    [1,2,3,4][3] == 4
dict:    {"a":1, "b":2, "c":3}["c"] == 3

But mipadi's answer is correct - any class that implements __getitem__ is subscriptable