The "status" feature allows users to inform their friends and the Facebook community of their current whereabouts and actions. Facebook prompts the status update with "(User name) is..." and Facebook users fill in the rest. Status updates are noted in the "Recently updated" section of a users' friend list.
Who can see your status?Edit
By default, your friends and people in your networks can see your Status. You can restrict this further from the Profile section of the Privacy page.
Changing your statusEdit
Click on "Set your Status" on the Home page. Alternatively, edit your Status from your profile page by clicking on "edit" in the Status Box.