Wind release is one of the five basic elemental transformations. You can use wind release by making your chakra as sharp and as thin as you can. It is mainly used short to mid range, and combines brute force and precision to an attack. Fūton attacks usually cause slashing damage. You can also channel your wind chakra through certain blades, enhancing their cutting power and range.
Fūton is effective agains Raiton, as wind is a natural insulator of lightning. Fūton is also weak to fire, for wind just fuels a fire. If a fūton user and Katon user are fighting together, the fūton user can easily strengthen his teammates fire attacks.
Fūton is also a component of some Kekkei Genkai. If you combine Fūton and Suiton affinities, you will create ice release, which is mainly used by the Yuki clan. Fūton is also a component in scorch release. It is also a component in a Kekkei Tota. This technique is called dust release, which was used by Mū, and also Oonoki. Dust release is formed by combining wind, fire, and earth affinities.
My favorite users of Fūton are Naruto Uzumaki, and also Kakuzu. Fūton seems to be mostly used in Sunagakure. Temari seems to be the most skilled user of Fūton in Suna.
Does this reply suffice, Minato Sensei?