There comes a time in every Drupal site builder's life when a content type must redirect to another page. Perhaps your site contains a collection of links, and you'd like visitors to see the destination site itself rather than the node that describes it. Perhaps your site features small chunks of promotional content that point to other nodes, and shouldn't be treated as primary content themselves. Wouldn't it be handy to redirect to the destination content automatically when the promotional node is visited? It certainly would -- and that's precisely what the Field Redirection module delivers.
The heart of the module is a well-implemented field formatter. If you have a content type that uses a Link field, a Node or User reference field, or an Entity Reference field, you can assign it the Field Redirection formatter. When the node (or any other entity with fields using this module) is viewed, Field Redirection doesn't render the field as HTML -- instead, it redirects the user's browser to the referenced user profile page, node page, link URL, and so on.
Because Field Redirection sidesteps the normal FieldAPI behavior of 'Building HTML for Display,' there are important caveats. The formatter should only be used on the Full Content build mode for an entity. If it's used for teasers, RSS feeds, Search indexing, Views listings, or other modes where it could be unintentionally triggered, your site will be redirecting itself to new URLs instead of executing important code. That warning aside, the module is an elegant and easily customizable solution to a common problem. If you're building lightweight "linking" content types that point at other elements or other URLs, Field Redirection can make life quite a bit easier.