A symlink or "symbolic link" is a Linux file that simply points at another file. If the referenced file is removed, the symlink will remain but not indicate there's a problem until you try to use it.
For most Unix users, symbolic links are obvious and natural — a means to make connections that span file systems and avoid the need to keep duplicates of files in multiple file system locations.
Linux or Mac OS X only: The Command-Line Fu web site writes up a quick-and-dirty trick to move files and create a symlink in a single command—so you can move files without breaking anything. The ...
If you come from the world of Windows, you undoubtedly understand the concept of a shortcut. In the Linux world, shortcuts do exist, but they're generally referred to as symbolic links, or symlinks.