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It use to be called SPOILER FILTER, which can be really good when guys on forum want to talk about some movie and don't want to give spoilers to everyone.
What it does, is basically hides the text (which you mark as spoiler) and just shows "Spoiler Button, click here to see it" Once you click that button, it shows the "spoiler text", and after that you can click to hide it again.
I think it would be lot better to have one of those, then having to write "SPOILER" everytime, then skip next five posts to avoid spoilers. This way, remember that don't want spoiler can read posts normally, and those who have no problem with spoilers can just "click for it".
placing those tags is quite easy, you do it with same shortcut\type like you do with putting image or media into your post.
If you want to see example, you could check out IMDB's spoiler filter, but this one for php looks better and it's easier to use.
