What is a DevHouse?

I read about DevHouse on Eugene’s blog and wanted to investigate. So what is a DevHouse? Best described by the SuperHappyDevHouse folks:

We’re about rapid development, ad-hoc collaboration, and cross pollination. Whether you’re a l33t hax0r, hardcore coder, or passionate designer, if you enjoy software and technology development, SuperHappyDevHouse was made with you in mind.

How do you organize one? Here is some help on How to organize a DevHouse. I had about code sprints in  Plone communities where a bunch of developers join together to produce new features for the open source content management system.

It seems to be a neat form of collaboration to produce products – typically open source.