Literally, a poster is a large A0, A1, or A2 sheet that presents a research project or work-based project. See the illustration here for comparative sizes.
Proposals for posters are submitted to prior to a conference and are peer reviewed before acceptance or rejection. You need to look out for calls for proposals.
Presenters are allocated an area of a conference or exhibition to hang posters. At different times in the conference, delegates are encouraged to visit the area and meet presenters to discuss their content.
Posters have to be presented in person. However, they can be presented by one author on behalf of co-authors or a research team.
Presenting a poster might entitle you to a reduced conference fee, but does not usually mean the fee will be waived.
Posters can be home-made but are generally printed professionally. You will need to meet the cost or secure funding for printing, c50 GBP.