Blur several differently-sized circles and fade their opacity on independent cycles, and it reads as defocused points of light. In a real lens, the disc's roundness depends on the aperture shape (hence "hexagonal bokeh" on some lenses).
CSS can't reproduce a real aperture's polygon shape, but a plain circular approximation is more than enough as decorative texture.
When to use
Use for a dark hero background, holiday/event moods, photo overlay decoration. Keep it subtle behind content — in the foreground it hurts legibility.