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A mashup is defined as a website or "application that uses content from more than one source to create a completely new service." (wikipedia)  With the collaborative web that we're seeing, ala Web 2.0, you're seeing them more and more.  Below are my three favorite mashups (one of which I was only introduced to yesterday, which says alot about it's obvious usefulness).

PodBop
Winner of MashupCamp's Best Mashup Award
The skinny on PodBop is that it's one of the most useful Mashups I've seen.  It allows for local search and then auto-download into your podcast software of music/podcasts that are produced locally.  If you want to know when any local podcasts are released or if you want to discover local mp3s, here's the way to do it automatically via Eventful's APIs.  More on how PodBop works here.

Chicago Crime Map
Winner of 2005 Batten Award for Innovations in Journalism and named one of Time's 2005 Best Ideas
Using Google Maps and the crime database from Citizen ICAM, this mashup geographically documents the criminal data in Chicago. 

The result is awe-inspiring (no, I'm not kidding).

MySchoolTube
Created by Berkeley Student Michael Cho
This site is actually what inspired this post.  I have seen mashups, and I love them, but it wasn't until I played around with this one that I realized what I love about them:  Passionate Usefulness. 

Yeah, that sounds odd, but think about WHO creates mashups; passionate users.

Who better to take a part of one great site and mash it with another great site?  Who better knows what users will love about your site than users? 

Facebook+YouTube=Very relevant to today's web users.

Two masups you should Google:
Hot Captcha
WeatherBonk

*More geekery on Mashups