WYSIWYG (pronounced wi-zee-wig) is an acronym for What You See is What You Get, meaning what you see on your monitor is what you're going to get when the document or text is published.
Where is it used?
WYSIWYG is used in nearly all word processors. The way the text is formatted on the screen is what you're going to get when you print the document.
Many webmasters make use of WYSIWYG HTML editors, which automatically adds the correct HTML tags to get the appearance you are looking for. If you want a word to be bold, instead of putting the tag around the word, you can simply click a "Make Bold" button and it is done automatically. Such programs include Adobe Dreamweaver and Frontpage.