Meaning: This sentence means that if a talented person is lazy, someone with less talent but who works hard can achieve more.
Choice of Words: Toil means hard work, especially physical work. Triumph means to win a fight or competition. Talent means a natural ability to do something well. Rest means to stop working or doing something. When you put them together, "Toil triumphs talent when talent rests" means that hard work and dedication can overcome natural talent if the talented person is not working hard.