The pin sits at the junction of the transistor connected to VDD and the one connected to VSS. If the top one (the one connected to VDD) is turned on and the other is off, the pin is connected to VDD and current can flow out of it. If the bottom one (the one connected to VSS) is turned onand the top one is turned off, the pin is connected to VSS and current can flow in to it from circuitry outside the device. If both are turned off at the same time, the pin 'floats', it can not source or sink current and is said to be in 'tri-state' condition, in other words internally disconnected and neither sourcing or sinking current. If you turn them both on at the same time, which is not normally allowed by circuitry inside the device, current flows through both transistors and shorts out VDD to VSS through them. The current they would carry would almost certainly overheat them and destroy the device.
Brian.