The Raspberry Pi is a small, barebones computer developed by The Raspberry Pi Foundation, a UK nonprofit, with the intention of providing low-cost computers and free software to students. Their ultimate goal is to foster computer science education and they hope that this small, affordable computer will be a tool that enables that.
What has sparked my interest in the RPi is the fact that it a full functioning linux board, requires minimal peripheral to operate, engineered to support hardware hacking, and cost only $35 (only $25 if your willing to drop the Ethernet port and reduce the memory).
I'm posting here some links to specs for the RPi hardware for latter reference: