Report post - Little red triangle thing at top of posts

[fishoholic]

So not sure if they've always been there or not but I recently noticed that on the top of a person's post (where it tells you what number the post is) there is a little red outlined triangle, white in the middle with a black line through it, that when you scroll over it with your mouse is says "report post".

Has that always been there or is it new? Curious as to what happens when you click on it.....anyone tried it before? Guessing the post gets reported to a mod or something if you click on it.

The board has been kinda feisty lately I'm sure I'll find something soon were I can test it out