Wiktionary
n. A piece of flat material placed beneath the strings of a guitar (or similar instrument) to protect the surface from being scratched by a plectrum (or similar device)
Wikipedia
A pickguard (also known as scratchplate) is a piece of plastic or other (often laminated) material that is placed on the body of a guitar, mandolin or similar plucked string instrument. The main purpose of the pickguard is to protect the guitar's finish from being scratched by the guitar pick.
As well as serving a practical purpose, the pickguard may also be used for decoration and is often made in a contrasting color to that of the guitar body (popular variants are white pickguards on darker guitars and black pickguards on lighter guitars). As well as plastic, other pickguard materials can include acrylic glass, glass, plywood, fabrics, metal, and mother-of-pearl/ pearloid varieties. Expensive guitars may have luxury pickguards made from exotic woods, furs, skins, gems, precious metals, Mother of Pearl and abalone pearl.
The pickguard is a very common site for an autograph, since the signed pickguard can easily be detached and moved to another guitar or sold separately as a piece of memorabilia.