The OTG cable is actually "USB On-The-Go" which allows the unit USB port to act as a host. For example you can connect USB keyboard and mouse.
And yes, you can use McDonalds or other Free Wi-Fi hotspots to access internet while chewing on to their burgers .
Forgot to add the Ice Cream Sandwich is just a name for new major android revision, similar to jinger bread etc.
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