Global Variables
In this section you can define custom data that you would like to be available globally in any Template. This is in addition to the standard Global Variables that are already available.
You could create a Global Variable for any number of purposes. One idea would be for a piece of copyright text that would be included on every page. By making it a Global Variable you can change it in one place and immediately see the effects everywhere.
Global Variables can contain text, HTML, javascript, etc. but cannot contain PHP code or ExpressionEngine tags that you wish to have parsed.
User Contributed Notes
Behind the Curtain Part II
“I like working smarter and not harder, and this is especially important when you have more than one person building a site. To that end, if you have not already made them so, Template Global Variables should be your new best friend.”
When working with Multiple Site Manager, Global Variables do not transfer through sites, so if you want to have global variables they have to be defined in each MSM because even though you are embedding a template from another site, it is looking for the local site Global Variables, either that or define them each in of your path.php file (but still they must match between sites).
You must have an ExpressionEngine license and have attained a forum rank of "Lab Assistant" (100 posts) to contribute notes to the User Guide