A Personal Hotspot turns your device into a Wi-Fi connection point that other devices, like laptops and tablets, can use to connect to the Internet using your cellular data plan. You can connect devices to your Personal Hotspot using Wi-Fi, Bluetooth, or a USB cable.
Note that not all carriers support hotspots, and additional charges may apply. The data used by a connected device will count against your data plan.
Your hotspot is secured with a password and displayed in the Wi-Fi Password box as shown above. The default password is a doozy. Touch Wi-Fi Password to open a dialog and change it to something easier to type in if you wish.
You can also turn on your Personal Hotspot in the Control Center. Press and hold the control group in the upper-left corner and a menu with additional options will appear.