It's a trap that you set for an animal in which a wire loop is attached to a stake in the ground. The idea is that a rabbit will catch its neck or its foot in it, and either die there, or be found alive by the "hunter."
Here's what the RAE says
So, two questions: 1. What do you call it in the Spanish of your choice (and where is that from?)
2. What do you call it in the English of your choice (and where is that from?)