Officially it is To the Struggle Against World Terrorism, (In Russian, Для борьбы против международного терроризма) but is is usually known as The Teardrop Memorial. Sometimes, though less often, it is called the Tear of Grief. (Click the image for a better view.)
The names of the victims of the 9/11 attack on the World Trade Center as well as the names of those who died in the 1993 bombing of the World Trade Center are engraved around the plinth.
It was designed by a Russian artist, Zurab Tsereteli, and presented as an official gift from the government of Russia to the people of the USA. President Clinton had to make some remarks at the 2006 dedication. (I think the Bush Administration wasn’t too happy about the Russians at that time.) And for reasons I can’t uncover it seems to have a lot of people convinced it is an urban legend.
It stands at the end of the former Military Ocean Terminal in Bayonne, New Jersey. Jersey City turned down the memorial when a gaggle of local artists complained that they hadn’t been asked to design a memorial. (No one asked Tsereteli, as far as I can tell.)
The art community hates it. The general public seems to like it.