巧克力 (qiǎokèlì) means "chocolate." It's a phonetic loanword — the characters were chosen mainly for their sound, to approximate the English word "chocolate," not for their individual meanings. This is a common way Chinese absorbs foreign words, especially for things that had no native Chinese equivalent.

That said, the characters aren't totally meaningless: 巧 (qiǎo) means "clever" or "skillful," 克 (kè) is a common phonetic component in transliterations (also means "gram" or "overcome"), and 力 (lì) means "strength" or "power." Together they don't form a logical phrase — you wouldn't guess "chocolate" from the parts, unlike a compound word such as 冰淇淋 (bīngqílín, "ice cream," also partly phonetic) or 电脑 (diànnǎo, "electric brain," for computer).

An example sentence: 我喜欢吃黑巧克力 (Wǒ xǐhuān chī hēi qiǎokèlì) — "I like eating dark chocolate."

巧克力 is a standard, neutral word used everywhere in mainland China and Taiwan — no regional or register issues to worry about.