I think one way to understand this terminology is the following (though, like the other answer, I am not really positive about the etymology).
If $C$ is a singular projective plane curve over a field $k$ then $C$ has exactly one singular point $x_0$ and, in fact, $x_0$ is a $k$-point. This can be seen by applying Bezout's theorem over $\overline{k}$ (i.e. if $p,q\in C(\overline{k})$ were both singular then if $\ell$ is a line passing through $p$ and $q$ then the multiplicity of $\ell\cap C$ at $p,q$ both have to be at least $2$ since $C$ is singular there, but then $\ell\cdot C\geqslant 4$ which contradicts Bezout's theorem).
Thus, if $C$ is singular we see that the smooth locus $C^\text{sm}=C-\{x_0\}$ is a smooth integral affine $k$ curve. Moreover, note that if $\ell'$ is any line passing through $x_0$ then $\ell\cdot C=3$, again by Bezout's theorem, which since the multiplicity of $\ell\cap C$ at $x_0$ is $3$ implies that $\ell\cap C$ contains another point of multiplicity $1$ which then is clearly a smooth $k$-point. In particular, $C^\text{sm}(k)\ne\varnothing$.
So, fix a point $e\in C^\text{sm}(k)$. Then, the exact same chord-tangent construction for elliptic curves endows $C^\text{sm}$ with a unique group structure such that $e$ is the identity--the point is that again if one takes $p,q$ in $C^\text{sm}(L)$ for any field extension $L$ then for any line $\ell$ in $\mathbb{P}^2_L$ passing through $p,q$ we have that $\ell\cdot C_L$ is $3$ which, again by multiplicity reasoning, implies that $\ell\cap C$ intersects $C$ at a third point which is automatically smooth and $L$-rational, so the same chord-tangent construction applies.
Thus, we see that $C^\text{sm}$ is a smooth integral $1$-dimensional affine group variety over $k$! As it turns out, there are not so many of those over $k$ if $k$ is finite:
Fact: Let $G$ be a smooth integral $1$-dimensional affine group variety over $k=\mathbb{F}_q$. Then, $G$ is isomorphic to $\mathbb{G}_{a,\mathbb{F}_q}$, $\mathbb{G}_{m,\mathbb{F}_q}$ or $\mathsf{Res}^1_{\mathbb{F}_{q^2}/\mathbb{F}_q}\mathbb{G}_{m,\mathbb{F}_{q^2}}$.
For a proof you can see the following (DISCLAIMER: THIS IS MY BLOG):
The group $\mathbb{G}_{a,\mathbb{F}_q}$ is called the additive group and the groups $\mathbb{G}_{m,\mathbb{F}_q}$ and $\mathsf{Res}^1_{\mathbb{F}_{q^2}/\mathbb{F}_q}\mathbb{G}_{m,\mathbb{F}_{q^2}}$ are tori. By definition, a group variety $G$ over a field $k$ is called a torus if $G_{\overline{k}}$ is isomorphic $\mathbb{G}_{m,\overline{k}}^n$ where $n=\dim(G)$. We call $G$ split if $G\cong \mathbb{G}_{m,k}^n$ (i.e. it's isomorphic rationally to $\mathbb{G}_{m,k}^n$). Note that $\mathbb{G}_{m,k}$ is called the multiplicative group and so another name for tori is groups of multiplicative type.
Remark: This last statement is not quite standard-- with the usual terminology of 'multiplicative group' tori are the connected groups of multiplicative type, but let's not worry about this here.
In particular, we see that every smooth integral $1$-dimensional affine group variety over $\mathbb{F}_q$ is either
- The (one-dimensional) additive group.
- The (one-dimensional) split multiplicative group.
- The (one-dimensional) non-split multiplicative group.
So, if $E$ is an elliptic curve over a $p$-adic field $K$ then it has a unique minimal Weierstrass model $\mathcal{E}^\text{min}$ which is a certain cubic curve over $\mathcal{O}_K$. If $k$ is the residue field of $K$ then we see from our above discussion that the reduction $\mathcal{E}_k$ is a cubic curve and thus $\mathcal{E}_k^\text{sm}$ is either
- An elliptic curve (this is the case when $\mathcal{E}_k$ has no singular point).
- The (one-dimensional) additive group.
- The (one-dimensional) split multiplicative group.
- The (one-dimensional) non-split multiplicative group.
One can then check that the usual definitions of good, additive, split multiplicative, and non-split multiplicative reduction match up precisely with this classification.