When switch 2 is pressed, the voltage on pin 2 of timer 555 changes sharply from 6 volts to 0 volts. This triggers the 555. The timer output (pin 3) passes to a nearby 6-volt voltage. The 6 volts, at the output of the 555, activates the LED.
To deactivate the LED switch 1 is pressed. When switch 1 is pressed the voltage on pin 6 of the 555 timer changes temporarily to 6 volts. The output of the 555 (pin 3) will have a voltage close to 0 volts, the LED will be will be deactivated.
Enjoy...😎