A treasury is a collection of items for sale on Etsy. Another shop owner "wins" a spot on the treasury list. Then they fill it with items they like or think are front page worthy. There is a huge list of treasuries. The administration at Etsy then picks from that list for the front page of Etsy for a amount of time. The treasuries are ever changing. A fantastic way for exposure. Being on the front page of Etsy is a coveted spot. Even if it's only for an hour!
Thanks to the wonderful shop owner that created this treasury. http://www.etsy.com/shop.php?user_id=6227378