Succinctly put, a good programmer's code can be read and understood.
In my opinion, a good programmer's code is language-agnostic; well-written code can be read and understood in a short amount of time with minimal thinking, regardless of the programming language used. Whether the code is in Java, Python, C++ or Haskell, well-written code is understandable by people who don't even program in that particular language.
Some characteristics of code that is easy to read are, methods that are well-named, absence of "tricks" and convoluted "optimization", classes are well-designed, to name a few. As others have mentioned, coding style is consistent, succinct and straight-forward.
For example, the other day, I was taking a look at the code for TinyMCE to answer one of the questions on Stack Overflow. It is written in JavaScript, a language that I've hardly used. Yet, because of the coding style and the comments that are included, along with the structuring of the code itself, it was fairly understandable, and I was able to navigate through the code in a few minutes.
One book that was quite an eye-opener for me in the regard of reading good programmer's code is Beautiful Code. It has many articles written by authors of various programming projects in various programming languages. Yet, when I read it, I could understand what the author was writing in his code despite the fact that I've never even programmed in that particular language.
Perhaps what we should keep in mind is that programming is also about communication, not only to the computer but to people, so good programmer's code is almost like a well-written book, which can communicate to the reader about the ideas it wants to convey.