What is a widget? It's basically a gateway on your TV screen to Internet-supplied content in a certain subject area. All TVs with Yahoo widgets can connect to the Internet, and via that connection can populate the widgets with real-time information and updates.
The main interface of Yahoo widgets appears as a dock along the bottom of the screen composed of individual elements known as "snippets." Think of each snippet as the tip of each widget iceberg. You can scroll horizontally through the snippets to get to the one you want, arrange the order snippets appear, and access system settings via the profile snippet.