TimeVault is a simple front-end for making snapshots of a set of directories. Snapshots are a copy of a directory structure or file at a certain point in time. Restore functionality is integrated into Nautilus - previous versions of a file or directory that has a snapshot can be accessed by examining the properties and selecting the 'Previous Versions' tab.
It is the Linux-equivalent to Time Machine from Apple, which is included with Mac OS X v10.5 "Leopard".
Here's how to set up, configure and use Timevault on Ubuntu 7.10.