We propose DEER (Descriptive Knowledge Graph for Explaining Entity Relationships) - an open and informative form of modeling entity relationships. In DEER, relationships between entities are represented by free-text relation descriptions. For instance, the relationship between entities of machine learning and algorithm can be represented as ``Machine learning explores the study and construction of algorithms that can learn from and make predictions on data.'' To construct DEER, we propose a self-supervised learning method to extract relation descriptions with the analysis of dependency patterns and generate relation descriptions with a transformer-based relation description synthesizing model, where no human labeling is required. Experiments demonstrate that our system can extract and generate high-quality relation descriptions for explaining entity relationships. The results suggest that we can build an open and informative knowledge graph without human annotation.