If you read the post Cuttlebug/Cuttlebug itis - with over 2800 posts 71 pages long - it will tell you all about it - it is a die cut machine and you can emboss with it - you can use other diecut machines dies and so on - it is a long post to go through but very informative - made me go buy one!
Plus this being the holiday weekend - Mike's, JoAnn's and AC Moore all have coupons!!!!