The server has received the request headers and the client should proceed to send the request body.
100 Continue is part of HTTP's expectation handshake. Before a client sends a large request body, it can include the header Expect: 100-continue. The server inspects the request headers and replies with 100 if it is willing to accept the body, or with a final status (like 401 or 413) if it is not. This avoids the client wasting bandwidth uploading a body that will be rejected.
When servers should return it: Servers return 100 in response to an Expect: 100-continue header on a request that will be accepted. If the server has no opinion or the request body is small, it can skip the dance entirely.
curl -v -H "Expect: 100-continue" -d @big.json https://api.example.com/upload
For a one-page reference of all HTTP status codes, see the HTTP cheat sheet. For testing API responses, try the API Tester tool. For inspecting responses on the command line, the curl cheat sheet covers the most common flags.