This is the normal state for an order when it comes in.
This is changed by you when you mark an item as 'shipped' in your Admin Panel. Your customer will be notified about this status change if you choose to send the accompanying email.
This status shows if a customer ordered more than 1 item from you and you marked some of their items 'shipped' but not all.
This is a status you can change yourself if you need to delay an order for any reason. Your customer will only see this status change if they have a Storenvy account and check it. It is a good idea to also email your customer if there will be any delays to their order.
This status is automatically updated if you refund a customer through PayPal. You can also mark an order as cancelled manually by clicking the "cancel order" link inside of an individual order page. It is also automatically applied if the customer files a PayPal dispute. After an order has been cancelled the status can not be changed again.
This is another automatic status. It usually means there is some problem processing the payment - the customer paid with an e-check or you provided the wrong PayPal email address. If it's your first order, it will be pending until you log in to your PayPal account and confirm the payment there.
Another automatic status, this one is applied after an order has been pending for 30 days and Stripe or PayPal hasn't managed to deliver the money to your Stripe or PayPal account. At this point, the money is returned to the customer's account.