This curcuit is designed as a momentary output. When an incoming signal is on (the input swith to the left), it causes the circuit to go into "unstable mode" for a period of time.
In this circuit, there are two outputs, one outputs HIGH during stable mode, the other outputs HIGH for unstable mode. The switch to the right is the switch for the unstable output. This can be designed without the extra output.
The time that the curcuit stays in "unstable mode" is determined by the RC values.
