Shiplap siding is a popular finish these days. It helps create some depth and texture without having to introduce a new color.
Shiplap was traditionally used for walls. It’s overlapping joints helped to keep air and water from moving through it. The “lap” from “shiplap” refers to the overlap of the joints.
When installed, the joint creates a small (usually 1/4 inch or less) gap between the individual wood planks.
Here is a before picture.
When installed on walls that have windows, the windows must be cased first. If the windows are not cased, the shiplap will not have anything to butt against.