This is a navigation technique provided by some websites. Just like a bread crumb trail in a fairy tail, the bread crumbs on a website will show you the names of the different navigations links you clicked on to get to the page you are viewing.
Jewelry Catalog : Rings : Diamond Rings : Tacori Platinum 18k
This would indicate that you are viewing a "Tacori Platinum 18k" Gold Ring which was found in the "Diamond Rings" sub-section of the "Rings" product category in your main "Jewelry Catalog."
The example also shows the different levels of pages separated by a colon, but you will also find it represented by arrows, slashes or some other character.