"Small Basic has been designed specifically for novice developers. The easy to use programming language allows beginners to get a clear understanding of the fundamentals of programming and have lots of fun on the way."
Well, that's the Microsoft blurb out of the way -- what they have done (besides releasing a product named after an existing one), is create a small subset version of a VB.net like language, that uses a very interesting "intellisense" IDE.
As an example, here's what you would type for a Hello World example:-
Small Basic is just that, a very simple language you could use to teach people to get into programming or to write small, simple applications. I thought it was very cool, that it comes with a Turtle object, so you can perform Logo-like operations.
Click here for the official blog and/or here for the forums.