Systray
The systray, short for "system tray," is located on the right side of the Windows toolbar. It is the collection of small icons on the opposite side of the Start Menu. The volume control and the date & time are default items in the systray and many more can be added. Some common icons that get placed in the systray are virus-scan, mouse, and instant messenger icons. They usually get put in the systray (whether you like it or not) when their respective programs are installed.
The nice thing about the systray is that it allows quick and easy access to programs and control settings. Most systray icons will open a control panel or program when double-clicked. However, if you install too many of them, the area can get so cluttered, you may find it easier to just browse your hard drive and open the program.