Paul White takes us through the different types of performance-related spools you might see in an execution plan:
All performance spools are lazy. The spool’s worktable is gradually populated, a row at a time, as rows stream through the spool. (Eager spools, by contrast, consume all input from their child operator before returning any rows to their parent).
Performance spools always appear on the inner side (the lower input in graphical execution plans) of a nested loops join or apply operator. The general idea is to cache and replay results, saving repeated executions of inner-side operators wherever possible.
When a spool is able to replay cached results, this is known as a rewind. When the spool has to execute its child operators to obtain correct data, a rebind occurs.
You may find it helpful to think of a spool rebind as a cache miss, and a rewind as a cache hit.
Read the whole thing. I am admittedly the type of person Paul mentions at the end (I reflexively hiss when I have a query performing poorly and see a spool).