Basically you can get 5 great games and donate to 2 charities all at once and you can pay as much or as little as you'd like for it. It's pretty much just a donation and you get to choose how your money is split between the charities and game developers. Also Notch paid $2,000 for it making him the top contributer so that's kind of cool. It almost makes me feel bad for giving $5.
The games are Braid, Cortex Command, Machinarium, Osmos, and Revenge of the Titans.

Their website explains all this really well, and it was surprisingly easy to do.
Also here's their promotional video. It's really cheesy.

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