To say that a statement is undecidable relative to a set of axioms is to say that this set of axioms is satisfied by several structures and this statement is true for some of them, but false for some others. The structures which satisfy a set of axioms are called models of this set of axioms.
The whole deal with undecidable statements in mathematics is that in our language we make the illusion that there is only one structure deserving of the name "natural numbers", but "natural numbers" are defined by a set of axioms. What Gödel proved is that, when a set of axioms (and the language that is used) is powerful enough, then this set of axioms is either inconsistent (i.e. it has no model), or there are multiple models and there exist statements in the language which are true in some models, but not in others; so you could say that the "truth status" of these statements isn't decided by the set of axioms.
EDIT:
Related issue: given a class of structures, in general it may not be possible to write down a set of axioms for which this class of structures will be the class of all models of this set of axioms. An example of that in first-order logic is well-ordered sets. You need second-order logic for that (i.e. you need to be able to quantify over subsets, instead of just elements of universum).
So the way I think about all that is that sets of axioms are inherently imprecise. When you add another axiom, in order to restrict yourself to a smaller number of structures, you always jump over several of them. You're never able to throw out just one.