My IP is a utility to let you know thru which internet IP the world see you.
This is what is usually called your public IP.
This 'Public IP' some time can be static but more often it is assigned by your provider anytime you connect for a new time.
Obtaining this IP it is not always easy, specially if you are beyond a modem-router which usually serves many computer using a common IP, in that case My IP will let you know the common public IP the router has and that is common to all the computer served by this modem-router.
Do not make confusion between your public IP and your LAN IP (the IP the world see you and your internal IP inside your Local Area Network in case you have one)
It indicates the status of your Router and allows you to access your settings.
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