I see what you did there.
Anyway, to answer the the OPs question here's a simplified example (real physicists, don't hate on me, I'm not going to get into the gory details here).
First, lets think of a wave in the water. It's traveling in one direction (towards the shore) and vibrating in another (up and down from the plane of the water). Light is the same. It travels in one direction (from the theatre screen to your eye), but it can vibrate in two directions: up and down, or left and right (and technically any combination of that like diagonal and such). This is called the polarization: vertical or horizontal.
So what these 3D theaters do is have a special theater screen that preserves polarization (most just randomize it) and they have one image for one eye sent out in vertical polarization and the other sent out in horizontal polarization. Then by using special glasses they can show only one polarization to each eye.
Think of polarized glasses as having little bars in them, if they're aligned up and down only vertical light can squeeze through the bars, the horizontal gets stuck. Likewise the bars can go horizontally and the vertical light gets stuck.
Actually it's the other way, but that's more complicated. If the bars (i.e. molecules aligned such that they conduct electricity) are vertical, the vertical polarized light resonates with the bars and gets dissipated and the horizontal makes it through. But that's just technical matters.
This is also why polarized sun glasses are great for boating and driving. Since most of the time you're looking out at a big horizontal reflector (the water or your car hood or the road), most of the light that's reflected (glare) is horizontally polarized (I won't go into the details why), so the polarized sunglasses are set up to filter out horizontally polarized light which removes glare and you only get the vertical light which is just about everything else.