I've heard people referring to this table and was not sure what it was about.
It's a sort of dummy table with a single record used for selecting when you're not actually interested in the data, but instead want the results of some system function in a select statement:
e.g. select sysdate from dual;
See http://www.adp-gmbh.ch/ora/misc/dual.html
As of 23c, Oracle supports select sysdate /* or other value */, without from dual, as has been supported in MySQL for some time already.