What's the use of <element contentEditable="true"> in html?

Question

It seems it allows you to edit the content of an element, but what is actually happening? What's the use of this property?

EDIT: see here

Answer 1

This is usually used for rich text input. While regular form elements like <input type="text"/> don't provide real rich text editing options, elements with contentEditable set to true can. Most rich text editors (e.g. FCK Editor) available for the web are built using an <iframe/> with contentEditable set to true.