An osculating orbit and the object's position upon it can be fully described by the six standard Kepler orbital elements (osculating elements), which are easy to calculate as long as one knows the object's position and velocity relative to the central body.
Real astronomical orbits experience perturbations that cause the osculating elements to evolve, sometimes very quickly.
In cases where general celestial mechanical analyses of the motion have been carried out (as they have been for the major planets, the Moon, and other planetary satellites), the orbit can be described by a set of mean elements with secular and periodic terms.
Curves that obey this condition (and also the further condition that they have the same curvature at the point of tangency as would be produced by the object's gravity towards the central body in the absence of perturbing forces) are called osculating, while the variables parameterising these curves are called osculating elements.
Also, in some situations, the standard (Lagrange-type or Delaunay-type) equations furnish orbital elements that turn out to be non-osculating.