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When you run Terminator, you will get a terminal in a window, just like almost
every other terminal emulator available. There is also a titlebar which will
update as shells/programs inside the terminal tell it to. Also on the titlebar
is a small button that opens the grouping menu. From here you can put terminals
into groups, which allows you to control multiple terminals simultaneously.
You can create more terminals by right clicking on one and choosing to split
it vertically or horizontally. You can get rid of a terminal by right
clicking on it and choosing Close. Ctrl-Shift-o and Ctrl-Shift-e will also
effect the splitting.
Also from the right mouse menu you can access Terminator's preferences window.