This component restricts the flow of electricity and has a resistance which changes with the sensed temperature. This allows the component to be used to detect temperature changes. The resistance value is 10k (10,000 ohms) at room temperature and gets lower when hotter and high when colder.
This version includes a probe on a lead allowing it to measure temperatures away from the circuit board. The probe is waterproof so can be immersed in liquids too.