A tip for Mac users: The Library folder in your home directory contains miscellaneous preference files, support libraries etc, and most normal users seldom need to touch it, which is why it is hidden by default in Mac OS X Lion. The standard way to get to it, if needed, is to hold down Option while clicking the ‘Go’ menu in Finder, and it’ll appear among the list of destinations.
If, however, you’re not a ‘normal user’ you may wish to make it more visible, and this turns out to be very easy. Just open a Terminal window and type:
chflags nohidden ~/Library
And you should then see it in your Finder just like any other folder.
Thanks to MOApp for this one.