What you learned: Given a billiard table that is m units by n units, you can trace the path of a ball that is hit from one corner at a forty-five degree angle. There are many questions you can ask about the path taken, and all of the answers depend on the dimensions of the table.
Why we care: Well, it's not really a million dollar question, is it? The main reason why I find this interesting is that it gives you a geometric representation of two concepts from arithmetic: greatest common factor and least common multiple. Both of these are instrumental in the structure of the path. Math people love it when they can combine different fields in math (like Euler's formula above).