One of the three primordial principles, alongside Law and Neutrality. Chaos is change, freedom, wildness, entropy: the force that tears down, transforms, and remakes. At its best it is liberation, renewal, and creative destruction. At its worst it is madness, corruption, dissolution of all meaning.
Since The Fall, the scales have been tipping toward Chaos. The results are visible everywhere: the Oldwood grows and corrupts, monsters crawl forth out of the Drownlands, the dead stir in the Barrowdowns, reality itself becomes unstable in certain places.
Some mortals serve Chaos willingly: cult leaders, the desperate, the mad, the idealistic. The High Faith makes no distinction between types of Chaos worshipers. All are heretics. This absolute stance has driven some into Chaos's arms who might otherwise have remained faithful.
Arcane magic has always had a touch of Chaos to it. Since the Fall, magic has become more unpredictable, spells flare or fizzle unexpectedly, prolonged use can leave marks of corruption, significant workings attract attention from Chaotic entities. The boundary between law-adhering wizard and reality-threatening warlock blurs.
Chaos does not "want" anything in the way mortals understand desire. It simply tends toward dissolution of rigid structures, transformation of static forms, freedom from all constraint. Whether this is conscious or merely the tendency of its nature, no one knows.