Found in the constellation of Orion, just below his belt on the hilt of his sword. The nebula is a few tens of light years wide, and is illuminated by a few hot, bright stars at it's core. These stars are known as the Trapezium's. It has been estimated that 1000 young stars have formed from the dust here within the past 10 million years.
Currently (as of Febuary 2001) there are plans to combine four VLT telescopes to check claims that planets are forming freely between the stars, from the vast clouds of dust present.