I guess technically it's really only one feature, but for three separate things. As far as I can tell, Google just released Templates to their Google Docs suite, which is a great, and long-overdue, addition. I've only spent a few minutes looking through them, but there's a decent selection, and all appear to be good quality. Here's what they have:
Presentation Templates
I still haven't used the Presentations in Docs, but there are 77 pages of templates (starting to wonder if this is really new, or if I'm just now noticing them).
Spreadsheet Templates
There are 115 pages of spreadsheet templates, ranging from service invoices, to event management sheets.
Document Templates
Document templates round out the new templates feature with 117 pages ranging from resumes to business cards.
If you're a Google Docs fan, fire it up and have some fun. It's a nice feature that took too long to get here (unless, like I said before, it's been here all along, and I'm just noticing).