Peirescius is a lunar impact crater that is located in the southeastern part. It is close enough to the limb that it appears significantly foreshortened when viewed from the Earth, even though it is nearly circular in shape. To the west-northwest is the crater Vega, and less than one crater diameter to the south is Brisbane. Farther to the east is the Mare Australe. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On the Moon they are named after deceased scientists, polar explorers, astronauts or cosmonauts.