That's when a man who is supposed to be on base leads off too far, and gets picked off (thrown out) before he can safely get back to the base that he's supposed to be on. When this occurs as the last of three outs in a given game, everyone "walks off" the field (Game over).
History was made in the 2013 World Series Game 4 when it was suddenly, surprisingly ended with a walk off pick off.
See the related "Picked off" link listed below for more information:
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The term 'walk off' refers to when the home team wins the game in the ninth inning or a later inning. It doesn't have anything to do with the type of play but simply that whatever play occurred was the play that scored the winning run for the home team. You can have a walk off base bit (single, double, triple, or home run), a walk off walk, a walk off hit by pitch, a walk off error, even a walk off balk.
Mike Schmidt hit 12 walk-off home runs in his career with the Philadelphia Phillies.
The Oakland A's In 2012 With 15 Walk Off wins in a single season.
Chris Ray
Interception, eg. the pass was "picked off" (intercepted)