奖杯 means "trophy" and refers to the physical cup or award given to a winner of a competition. It is commonly used in sports and contest contexts, such as winning a championship trophy.
球队赢得了冠军奖杯,全场欢呼。
qiúduì yíngdé le guànjūn jiǎngbēi, quánchǎng huānhū.
The team won the championship trophy, and the whole crowd cheered.
这座奖杯是用纯银做的。
zhè zuò jiǎngbēi shì yòng chúnyín zuò de.
This trophy is made of pure silver.
他把奖杯放在书房最显眼的位置。
tā bǎ jiǎngbēi fàng zài shūfáng zuì xiǎnyǎn de wèizhì.
He placed the trophy in the most prominent spot in his study.