I have not read the code, but assuming df is a pandas dataframe, it sets the 'y' column to the log of what was previously the 'y' column.
https://gist.github.com/llimllib/385230f38c3f9b70c3e46158e60...
df is a dataframe, which is like a spreadsheet. This line takes the logarithm of the column named 'y' and updates it in place.
> df['y'] = np.log(df['y'])