Google Squared takes a search query and tried to present the results in tabular form — like an online spreadsheet of sorts. Sometimes it works very well and provides interesting results, and other times not so much. Here’s a screenshot of the “very well” example, a search for [u2 albums]:
Squared is very configurable; you can add and delete rows and/or columns, and sometimes replace data that Squared puts in your results. It’s a search tool that’s still part of Google Labs, and frankly, its overall usefulness is questionable. But that, presumably, is exactly what Google Labs is for — testing new ideas and seeing what sticks.
An official announcement of today’s launch is expected soon.
Update: Here’s the official announcement.