To the west is the Oceanus Procellarum, and to the south is Mare Insularum. The name T. Mayer was first given to this crater by Johann Hieronymus Schröter in 1802. This crater is embedded within a region of rugged ridges and these are attached to the exterior of the rim, most notably along the east and northeast. (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.