Vinyl usually refers to Analog Long Playing Records (LPs). While vinyl is not as mainstream today as it was back in the day, the format is still in use. Vinyl records are considered to be more "warmer" and pleasant sounding than CDs.
Many audiophiles (and non-audiophiles) argue that Vinyl is superior to CD, and those people are correct in my opinion.
Can be used for playing frisbee. Although I would not reccomend it.
Can be a pain if you don't feel like putting a vinyl on the record player.
Example 1. Person 1: Man Sublime is AWESOME!!!
Person 2: Hell Yeah they are! I just got there self titled on vinyl, it kicks ASS.
Example 2: I could listen to music on vinyl, but that gets annoying putting the vinyl on. Eh, I'll listen to it on cd instead. Not as good as vinyl, but is faster to put on.