Facebook has quietly rolled out a new feature that displays status updates you posted exactly one or two years ago.

The feature appears as a small box in the right-hand column above the advertising, either titled “On This Day in 2010″ or “On This Day in 2009.” We’ve typically found that the “On This Day” box appears while you’re browsing a photo album.

You can also click the “Show More” button to see more status updates from exactly one or two years ago, if you posted multiple status updates on those days. The feature only seems to go back to 2009. That makes sense — Facebook just didn’t have a lot of users in 2008 or 2007.

Based on a search of public Facebook and Twitter status updates, we believe the feature began rolling out in a limited test on August 11. More and more users started noticing in the last twelve hours, though. This isn’t the first time Facebook has tried to help uses discover their past activity on Facebook. It also has a feature for surfacing photos from your past.

We’re not sure if Facebook thinks of these nostalgic features as just fun little additions to the product, or whether they serve a purpose. Perhaps Facebook wants to remind its users that they have invested years of their lives into their product, so perhaps they shouldn’t switch to something new. Or perhaps its just another one of Facebook’s many product engagement tools.

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