Portable Wi-Fi hotspot

You can turn your Android device into a portable Wi-Fi hotspot, to share your Android device's Internet connection with one or more computers or other devices

When your device is serving as a Wi-Fi hotspot, you can't use your phone's applications to access the Internet via its Wi-Fi connection (but of course you remain connected to the Internet via your mobile data network)

You configure the hotspot with the Wi-Fi hotspot settings

For more information, visit http://www.android.com/tether#wifi