A point is is an object that has a name, position, and rotation. It may be attached to up to four bone joint influences.
Points are not true geometric objects. They are simply place-holders in 3D space. A programmer may use a point to define a bolt point. The Quake MD3 filter uses points as "tags" for combining multiple model files into a single final model.
Use the Create Point tool to create a pone joint.
You can change the name of a point using the Name Properties panel or Points Window. You can assign bone joint influences to a point using the Influence Properties panel.