According to wolfram mathworld (and wikipedia :), given a set $S$ and an equivalence relation $R$ on $S$, an equivalence class is a set $\{x\in S|xRa\}$ associated with an element $a\in S$.
However, many times I've seen other interpretations, so to say. For instance, here, the first answer says:
"It’s easily checked that $\sim$ is an equivalence relation on $U$ whose equivalence classes are pairwise disjoint open intervals in $R$".
ie. the elements of the equivalence class are intervals (well, pairs that are interpreted as intervals).
Is it just jargon, for the sake of pragmatism?