Entities were introduced in Drupal 7 as a way of taking the things that people loved about nodes + CCK in Drupal 6 and applying them to other types of data like users, comments, and taxonomy terms. The Entity API in Drupal 7 provides a set of common functions and classes to make it easier for developers to create their own custom entity types or to work with other already existing ones in a generic way.
In this session we'll take a look at clarifying some of the confusing terminology around the entity system, and some simple code examples that walk through how the entity API works.
Collaborative notes link: http://bit.ly/114BvD8
Be able to describe the difference between Entities, Bundles and Fields
Have a basic understanding of the key hooks involved in creating a custom entity