list() takes a list of individual variables (aka 'scalar' variables) and presents them as if they were the successive elements of an array. I find it mostly useful when retrieving from a database: instead of putting the results into an array:
$data = pg_fetch_row($qry);
echo $data['name'] . <br>;
echo $data['address'] . <br>;
...
you can just say:
list($name,$address) = pg_fetch_row($qry);
echo $name . <br>;
echo $address . <br>;