Earlier quoted context omitted.
I realize that using words like "vector" and "combinatorics" are poor choices. This is part of the problem. It is difficult to come up with a good metaphor that is simultaneously interesting and meaningful. I think the Rubik's cube is a great example. Thanks, I'll be using that in the future.
Telling them what it can do or what it is used for is almost always the best way to talk about something you do with the totally uninitiated. Make sure it's something they've heard of before, e.g. the Rubik's cube example.
Although I'd guess for most researchers in Maths what it can be used for is many years away (if it actually has a "practical use") and what it can do is far too esoteric for the layman.