I read on the news about it, and so I created an account on her site and I can easily say that it is very fun to be on! Backplane - littlemonsters.com
Parts of it are like Pinterest where many pictures are stored. Most are pictures of Lady Gaga but I run into a few that aren't. There is also a message board where you can discuss with "Monsters." You can also customize your own profile.
..is it actually official? Because I haven't heard nothing about it from anything. I would've thought she'd have tweeted about it at least..