As in previous answers, it will cache the object - kind of.
If you call $(this) , jQuery will search the DOM until it finds this -element. If you want to make many changes to an element, it will be faster to save a link to this -element.
$this = $(this);
Now the element is saved as the $this variable, and if you want to add material to it again, you simply use the variable.
$this.hide();
Anders
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