What it means
Refers to the flashy extra features that sit on top of the basic thing you actually need. The kit would still do the job without them, but the add-ons make it look posh, premium, or just more fun. Often said with a bit of an eye-roll when marketing gets carried away.
Usage examples
"The new coffee machine makes a decent brew anyway, but it’s got all the bells and whistles: touchscreen, frother, and an app. Bit much for the office kitchen."
"I just need a phone that calls and texts, none of the bells and whistles."
"The new software has all the bells and whistles, but the basics still don't work."
"Yeah, the car's nice, but I'm not paying extra for all the bells and whistles just so the seats can massage my backside."
"The estate agent kept banging on about smart lighting and built-in speakers. Lovely stuff, but it's mostly bells and whistles if the boiler's knackered."
Where it comes from
This one goes back to literal bells and whistles used as flashy extras on machines, instruments, and showy gear. By the early 1900s in American English, people were using it figuratively for non-essential add-ons that made something seem fancier, louder, or more impressive than the plain basic version.