It's called Memories and basically lets you save Snaps and Stories into a personal collection. Um, AMAZING.
It lives below the camera screen. Simply swipe up from the camera to open it.
You can use Memories to create new Stories from Snaps you've taken or even combine different Stories into a longer narrative. So it's perfect to celebrate things like birthdays and anniversaries when you can bamboozle your buddy with old, cringeworthy Snaps.
It's also crazy easy to find the stuff you're looking for because the update allows you to search using key words.
Old snaps will now appear with a border around them to show they're from the past.
There's also another cheeky, little feature for all you naughty snappers. Snapchat wrote on its blog,
We realized that Snapchatters want to feel comfortable showing their Memories to friends while they're hanging out together, so we made it easy to move Snaps and Stories to My Eyes Only — and avoid awkward moments when a friend stumbles upon a Snap meant just for you. Memories is backed up by Snapchat. We won't backup any photos or videos from your Camera Roll, unless you use one to make a new Story or add it to My Eyes Only. In that case, we'll back up only the photo or video that you used.
Memories will be rolling out sometime this month. You'll receive a Snap from Team Snapchat when Memories is ready for you to use.