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So, what is nanowrimo. Well "nano" tends to be used to denote very small things (nanotechnology used for augmentations for example) and wrimo is clearly a portmanteau of writ and primo, thus meaning the most excellent legal documents issued by a court or other judicial entity. So a nanowrimo is a very small, but most excellent, legal document issued by a court or other judicial entity. So simple.
That's not it.
Na is for National. It's an anachronism. The event is worldwide.
No is for Novel. The definition of which is loose. Work of fiction 50,000 words or more. Their might be some more to it than that, but it is lose, a collection of short stories would count.
Wri is for Writing. Most people type.
Mo is for Month. Specifically November. It's not too late to start, if you start now you probably still have a better chance of winning than me.
The idea of the project is, basically, to use to pressure of a deadline to get words on paper. By which I, personally, mean "hard drive" it's a first draft, there's no pentalty for writing crap, it's more or less on paper, just get the words out there. Making them fit for public consumption comes later (also known as editing.)
So, the prompt here is this: NaNoWriMo. Say whatever you want about it.
Official website here.