Euphemism for guts - organs, the lymphatic system - that sort of stuff. The parts of an animal you wouldn't want to eat unless they were called sausages (if you are of the animal-masticating persuasion, that is.)

Can also refer&to those things less tangible - thoughts and particularly emotions.

"My insides feel all gooshy."

Butterflies in the stomach? (literally!) Or mere anxiety?
They both fall in this domain.