This is a very versatile technique in which you use a special tool (a gripfid) to split the plies of a yarn, and then feed other yarns back through. You can do some pretty amazing colorwork and stitch patterns with it. Everything I've made so far has this very pleasant and unusual "squishiness" to it. Most commonly it's done with 4-ply yarns, splitting them in half each time, but there are tons of other variations. Linda Hendrickson's books on the topic have been a huge help! Something I do that I don't think I've seen mentioned elsewhere is dipping the free ends of the yarn segments into hot wax. This keeps them from fraying as you work, makes them easier to insert into the gripfid, and makes them less likely to come loose.
it's nice that it's removable so you can dust it with baking soda as needed. I wish mine did that