Each card has a rank (e.g.: king, jack, $2$, $6$) and a suit (e.g.: heart, club).
The $\binom{13}1$ is the number of ways to pick the rank of the single pair, and the $\binom42$ is the number of ways to choose the suits of the cards in the pair. To make sure that it's the only pair, then we have to choose other ranks for each of the three other cards. There are only $12$ ranks left to choose from, so $\binom{12}3$ is the number of ways to choose our other three ranks. Each of the other three ranks will have an associated suit, and $\binom41$ is the number of ways to choose the suit of one of the other three ranks. Thus, the number of ways to choose the suits of the other three ranks is $\binom41^3$.