This is when a neutrino, measured to have a specific flavor at one moment, is seen to, at another moment, be a different flavor. This phenomenon has been observed. However, the theoretical aspects of the process are not yet fully understood. The big problem with neutrino oscillation, however, is that it would require that their non-zero mass, predicted by the Standard Model, be modified.
Bruno Pontecorvo
The phenomenon was first predicted by Bruno Pontecorvo in 1957. Neutrino oscillations have since then been observed in several contexts.
Neutrino oscillations are of great experimental and theoretical interest. This is because the process can shed some light on processes of the neutrino. In particular, it would imply that the mass of these neutrinos is non-zero, which would involve a modification to the Standard Model of particle physics.