Status lets you share your status and see what your friends are doing.
Use the iMessage app to generate gifs about what youre currently doing.
Use the main app to see what your friends are up to.
Its pretty simple.
Btw, if you wanna use automatic statuses, were gonna need to use your location in the background
Continued use of GPS running in the background can dramatically decrease battery life.
No need to fear, if this becomes an issue, simply turn off location tracking. :)