What does Basket Weave mean?

A fabric weave where more than one filling threads pass over and under the same number of threads on alternate rows of the warp.

Heddels explains Basket Weave

This weave can produce a checkered or plaid pattern and although it can provide an attractive pattern,  it tends to bunch up causing it to be not as strong relative to plain weaves. Examples of this can be seen in monk cloth or oxford cloth.

Additional Resources

Visual illustration of a basket weave: