"The Way Back" a.k.a. "Where is My Car" (or "Find My Car") is an application that lets you bookmark your current GPS position, and then find a route to return to the location later. The circle around the icons indicates the accuracy of the GPS reading.
This application is useful if you don't have a good memory or if you're in a foreign city. BE AWARE OF ROAMING COSTS! The map will be downloaded using your data connection.
In addition, "The Way Back" will also save a log of your saved positions (up to 128), so that you can retrieve a location for future use. The list allows you to see the position on a map, and you can also delete one or more previous locations.