Think of pinterest like you do file folders on a computer. In your documents you might have folders for taxes, business info, home and family information, etc... In each of those folders you might keep stuff you've downloaded from the internet, emails, stuff you've scanned in or even created yourself.
Pinterest is the same thing. You create boards (folders) that are named Classic Cars, Broncos, Tools I Want, etc... Then you can
1. upload stuff from your computer, like pics of your bronco
2. pin images from other sites with a little button that you download and shows up in your task bar
3. pin images from other Pinterest users. This is why you won't see the names of the owners matching the broncos you see. Other people have found and pinned the image of their truck.
Your pins will show up in your individual boards and also on one big board that all pins from all users appear. If you make your board private, only you see your pins.
It's great for keeping up with ideas like ksm said or even creating a christmas or birthday wish list for your lovely bride to pick from. You could go to Wild Horses, find the tools and parts you want, pin the image and put it on a board called "I'll do the dishes for a year"
Like ksm said, the best part is there's little communication on this site.