Basically, if you've got a blog, and you'd like to allow other web sites, blogs, profiles (MySpace, FaceBook, etc.) to embed your blog, a blog widget is an easy way to do it. Using the tools found at widgetbox.com, creating the initial widget was very quick and easy. Creating a Facebook application out of the initial widget was a little more complex and time consuming, but the instructions offered by widgetbox got me through that as well.
Here's what my two main blogs look like when widgetized:
(Note: If you'd like to use either of these blog widgets on your page, just click the "Get Widget" button at the bottom of each one.)
I've also just started a new blog specifically for my video making over at kenrgpresents.com, but I haven't widgetized that yet.