Chili crisp combines chili-infused oil with crisp fried bits, often including chilies, garlic, shallots, spices or beans. Associated with Chinese cooking and now made in many styles, it adds heat, crunch and savory flavor to noodles, rice, eggs and vegetables.
Unlike plain chili oil, its solids are part of the appeal. Ingredients and heat vary by product; some versions contain peanuts, soy, sesame or seafood. Stir before serving to distribute oil and solids.
Reference: Further reading.