This is a Cinnamon applet, which lets you access your places and bookmarks through an icon in the cinnamon panel, as well as launch a terminal in those locations.
Left-clicking the item will open the corresponding folder for that item. Left-clicking the terminal icon next to that item will launch a terminal in that location.
1) Copy the folder "places-with-terminal@mtwebster" to "~/.local/share/cinnamon/applets/". 2) Enable the applet in cinnamon settings.
This is a heavily modified version of the applet 'email@example.com' - I've merely added the ability to launch a terminal.