RSS stands for Really Simple Syndication. It's a way to publish information so that it can be displayed in a variety of places including other web sites, RSS reader applications and some mobile devices. If your a blog reader, you're probably already familiar with RSS. Blog entries can be re-published in major portals like Google, or displayed on "gadgets" in other blogs or web sites. Entries are usually from the most current to recent past with a set, and usually small number of entries.
So then, what is GeoRSS? GeoRSS is an extension of the RSS format (XML) but includes location information. Good examples of GeoRSS feeds include the USGS earthquake feed. It publishes information about recent earthquakes, including their magnatude, date, place and map coordinates. It can also be used to show current traffic accidents.
There are lots of fun ways to use it too. For those on Twitter, try looking at Twittervision. You may want to display delivery or sales locations, daily appointments locations, where your web site visitors are coming from or other interesting facts from data your collect on your web site.
Maps are fun. Interactive maps can be fascinating!