Cloaking is a Black Hat Technique, where content shown to user is different from what Google Spider reads on the page. It's basically used to manipulate the Google Bots and and to improve keyword ranking. Such pages are made for bots.
Cloaking can also be done on the basis of IP as well. You can target a particular IP, and if any bot or user is accessing that page using the IP mentioned in Cloaking IP, they will come across with the Cloaking page.