Yahoo Pipes is latest in yahoo launches. It is described as,
Pipes is an interactive feed aggregator and manipulator. Using Pipes, you can create feeds that are more powerful, useful and relevant.
Here is more explanation on the same –
Pipes is a hosted service that lets you remix feeds and create new data mashups in a visual programming environment. The name of the service pays tribute to Unix pipes, which let programmers do astonishingly clever things by making it easy to chain simple utilities together on the command line.