There is an email going around with the subject "New Graphics Site". It is spreading fast as about 100 people I know have gotten it just today. If you get an email with that in the subject line delete it quickly and DO NOT OPEN IT! This is a new virus I have been told.
Symantec has rated this worm a Level 2 threat (Level 1 is the least harmful ranking) and has noted (despite the wording of the warning quoted above) that the worm does not appear to be spreading widely. Users of the new Beta version of Yahoo! Mail have not been affected by this worm so far.
Additional information on this worm can be found on the Symantec web site.