What is it?

Microsoft Configuration utility - MSConfig.exe

What does it do?

MSConfig.exe is a "user friendly" front end for editing system files such as win.ini and autoexec.bat. This file does not exist on Windows2000 or WindowsXP machines it would seem, as a legitimate file it was only used in the 9x series of Windows.

Virus Precautions

MSConfig.exe?was a popular file back in the 9x days and since it was left out of 2000 and XP, it would make sense a virus, or in this case a worm, would create it and pass it off as a normal Windows file. This such worm is Winur, a worm found in some popular P2P programs. More information including removal at Symantec.