I still didn't get it even after blow's message (which by the way was a direct quote from http://mathworld.wolfram.com/LookandSaySequence.html ....). I had to click there a link that directed me to http://www.research.att.com/cgi-bin/...gi?Anum=005150 which gave an example I finally also understood :
Example: E.g. the term after 1211 is obtained by saying "one 1, one 2, two 1's", which gives 111221.
Hope this helps someone else too who doesn't dare to ask....