This phrase is often used to describe the cause of irrational fear, especially at night. He refused to sleep alone, citing things that go bump in the night as his main fear.
Pro Tip 2/3
Child's Imagination
Children's stories or experiences may refer to this phrase to describe monsters under the bed. The child's story was full of things that go bump in the night that only he could see.
Pro Tip 3/3
Not Real
Emphasize that the phrase refers to imaginary fears, not actual dangers. She realized that her fears were just things that go bump in the night, entirely made up.