It has already been caught in the wild as seen here:
|though its in chinese, it shows wifi tethering option|
Tethering gives you the option to use your phone as a WiFi hotspot, allowing you to share your phone's internet with other users within a small radius.
This feature has always been prominent in Symbian devices thanks to Joikuspot, a well know WiFi tethering app.
Be careful how you use this feature though, it requires a lot of data traffic and your data charges can hit the roof.
From personal experience I choose not to use tethering and when I do, it has to be absolutely necessary and in a very short period of time.
i got reckless with tethering and at the end At&t slashed my data speed to a bare minimum that I couldn't use my phone to surf the web normally, let's just say I learned my lesson!