It's the table prefix you used on all your vbulletin tables... you specify it when installing.
If you installed using "vb3_" then
PHP Code:
$db->query_read("
SELECT *
FROM " . TABLE_PREFIX . "user
WHERE userid = '" . $vbulletin->userinfo['userid'] . "'
LIMIT 1
");
would query the correct table, whereas
PHP Code:
$db->query_read("
SELECT *
FROM user
WHERE userid = '" . $vbulletin->userinfo['userid'] . "'
LIMIT 1
");
would not, because the table is called "vb3_user", not "user".
If you don't have table prefixes, it won't affect anything (because the constant is equal to "").