I'm no expert, so if this isn't completely accurate, please excuse me.
Play sand is less uniform in size of the particles and color. It's a more natural looking sand, like what you see in a kid's sandbox. The problems with it is you can get really fine particles and really large particles. When you rinse it, you can get rid of a lot of the fine particles, but some of them will probably be around to get you later.
Pool filter sand is more uniform in size and color. What I bought is large enough that it doesn't get stirred up easy...I can stick the gravel vac right in it and still not suck it up high enough to go through the tube. I rinsed it the first time I used it, but not the second two. I've never had a problem with sand getting into the filter at all.