recordMyDesktop is an open source desktop session recorder for producing screencasts on GNU / Linux based operating systems. There are two available frontend GUIs gtk-recordMyDesktop built on the GTK+ and qt-recordMyDesktop built on the Qt toolkit libraries.
PlatnumX created this helpful screencast explaining the basic features and walking through the available configuration options of recordMyDesktop. For detailed inforamtion on how to use recordMyDesktop read the recordMyDesktop User Guide.
I have personally used recordMyDesktop to create several screencasts, for example this one on creating keyboard shortcuts, which I recorded on the HP Mini 1000 netbook. I experienced problems on the netbook that you can read about in my HP Mini review but am very satisfied using recordMyDesktop on my more powerful desktop.
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