Palefrost: There's much more to it than that! A scrapbook is more like a combination of a photo album and journal. You use memerabilia, photos, journaling, etc. to try to capture the feeling of an event or a day. On the page of for your son's first birthday, for example, you might put in his picture when he had his first bite of cake, some scraps from the decorations, some cutouts from the cards he received and then write your own reflections on the day.
You try to put all these elements together in a design that further reflects the memory.
It's a lot of fun, but easy to get swamped with supplies!