Why this name? Well, simply because thanks to Pretty Links, you can take an ugly link, and turn it into something beautiful (well, at least something readable).
For example (I’m using my own site as an example): myaffiliateprogram.com/myaffiliatelink.com?id=15485 becomes adventures-in-im-land.com/MyRecommendedProgram. Isn’t that nicer? In fact your link looks like a url of your own site.
With the pro version you can also do things like track clicks, automatically link keywords in your posts to your affiliate links, and a few other cool things.
There are other plugins like this one out there, but I have found this one to be the easiest to use and most affordable if you decide to upgrade to the pro version.
Pretty Links