Hopefully I’ll cover the main points here -

Earnings -
You basically build pages reviewing products or with other content, and add modules to ebay, amazon etc. Squidoo also add adsense ads to your page/lens too. If your lens sells 1 book and Amazon pays us $1.05 in affiliate income, we send a nickel to charity and fifty cents to you.

Top moneymaker modules include: Amazon, eBay, CafePress, and The SuperStore. Every single one of these modules generates directly attributable revenue for your lens, and we pay a royalty to you or to your chosen charity based on that income.

If you sign up via a link provided by me you will recieve an extra $5 when your earnings reach $15 and so will I!

Payments -
Simply every month via paypal - minimum payout is $1, but be sure to go into account settings to set up your paypal details, and to select you want the cash or it all gets donated to charity!

Here’s a non-referring link, but if you sign up via that you won’t gain the extra $5 when you earn $15.
http://www.squidoo.com

The other advantage of squidoo is it will allow you to link to other websites you have created thereby increasing search engine ranking and traffic!

This is what wikipedia say about squidoo -
Squidoo is a website launched in October 2005. It is a platform designed to make it easy for anyone, for free, to set up a single page on a topic he or she knows or cares a lot about. Squidoo came out of beta testing in March 2006.
Squidoo is a network of user-generated lenses –single pages that highlights one person’s point of view, recommendations, or expertise. Lenses can be about anything, such as ideas, people or places, hobbies and sports, pets or products, philosophy, and politics. Lenses aren’t primarily intended to hold content; more emphasis is placed on recommending and then pointing to content on the web. Annotation and organization and personalization delivers context and meaning.
Users who create lenses are called lensmasters. A lensmaster uses the tools available online to provide links, feeds, abstracts, and lists to users who are trying to make sense of a topic. For example, a single lens could point to Flickr photos, Google maps, blogs, eBay auctions, YouTube videos, and other links. Lensmasters are encouraged to promote personal agendas, expertise, causes, products, and opinions.
Squidoo splits its revenue with its “co-op” of lensmasters. 5% goes straight to charity, first. Then 50% goes to the lensmasters. 45% goes to Squidoo. The site is estimating that nearly half of all the lensmasters on the site are donating their royalties to any of 45 featured charities, ranging from NPR and The American Heart Association to smaller organizations like Chimp Haven and Planet Gumbo.
Squidoo was founded by author, speaker, and notable blogger Seth Godin. On Godin’s founding team was his book editor Megan Casey, Fast Company employee Heath Row, Corey Brown, and Gil Hildebrand, Jr.
According to Alexa, Squidoo’s traffic has grown more than 40% monthly beginning in the spring of 2007. It is now in the top 500 of all websites tracked worldwide