This is a ribbon microphone made by a company called Cascade Microphones. This particular model, called the Fat Head II, has an upgraded transformer for an even warmer and more transparent sound. This is an excellent option for getting started working with ribbon microphones, which can be more finicky than dynamic or condenser microphones. They typicality have a lower SPL (Sound Pressure Level) threshold, and therefore do not handle as much volume as a dynamic microphone.
I use this microphone mainly for recording a guitar cabinet, but it is also excellent for vocals or acoustic guitar. With a studio matched pair, you could use 2 Fat Heads for drum overheads, however ribbon microphones are not suitable for close miccing a kick drum or bass cabinet. The high sound pressure level would damage the ribbon element inside the microphone.
Let me know if you have any questions about recording, or music in general. I would love to hear from anyone who has any recording tricks or tips of their own.