It's a standard gift card, but It's F&W themed. The card is smaller than standard credit card size and comes on a bracelet type strap that you can wear or clip onto a belt or bag. You can then just swipe the card at the diffrent kiosks around the F&W fest. It can also be used as a gift card anywhere else around WDW.
There are no extra discounts or perks other than the size of the card. They're available all over EPCOT during the F&W Fest, and can be reloaded with cash. I didn't see them for sale anywhere outside of EPCOT though