Pleats

Pleats are creases on the front of the pants, with two of them on both sides. The material is folded and sewed before it is attached to the waistband. In flat front pants material lies flat. Pleated pants are worn on the waist, just above your hip bone. This also means that pleated pants have a higher rise.
Why are pants pleated? Because pleats gather extra fabric in the rise area of a pair of pants, below the waist, if too much fabric is added there it can result in unsightly ballooning in the groin area. Some poor trouser designs also expanded this concept, rather literally, to create more room throughout the pants, especially in the legs.
Fast forward to today pleated trousers are more flattering than ever. Today's iterations are not as full and billowy as pleated pants of the past, so don't pull out the old pleated pants that have been stored away in a trunk in your attic hoping for the same look.
Depending what type of pleats, a tailor can take the pleats out of pants. For reverse pleats this involves removing the waistband, opening the pleat then re-cutting the side seam and pocket.
Some trousers have one, two or can even have up to three pleats.