[suited aces]

My understanding is that the term refers to the likelihood of all other players folding.

This is an incredibly oversimplified example, but for instance: if you raise pre-flop with ace/queen, get one or two callers, and the flop comes K72 (rainbow); then your bet would have a lot of fold equity, i.e., you're not getting called much (at least by decent players).

By contrast (and again, oversimplified), you limp in on the button after six players limp to you, the small blind completes, the big blind checks, and the flop comes AJT -- even if everyone checks to you, you have no fold equity, i.e., this flop hit somebody and you're getting called or raised almost all of the time.

Someone let me know if this is off-base.