What are End points in the USB peripheral explanation. Can some one please elaborate the functionality of USB w.r.t. end points and how it is configured when connected to an FPGA?
You can refer to USB Spec. Terms and Abbreviations
Device Endpoint
A uniquely addressable portion of a USB device that is the source or sink of information in a communication flow between the host and device. See also endpoint address.
If you really are going to make a USB peripheral, you are going to need a lot more detailed information about USB than can be gathered from a forum posting. I recommend Jan Axelson's book, USB Complete. It does a good job explaining USB end points and how they are implemented.