It's quite self-explanatory. It's the percentage of CPU used by that particular process. And it's probably calculated by counting how long (e.g. how many ticks) has the process been running. You may check the source (/usr/src/bin/ps) if you need more information.
If a process has 100%, it mean it's using 100% of the CPU. If this is temporary, it's not a problem. If it stays there, then it might be locked up in a loop. Kill the process right away and restart it. Unless of course you're talking about the idle process.