Update May 21,2012
To see a time-lapse video of the eclipse go to: http://www.wired.com/wiredscience/2012/05/annular-eclipse-timelapse/
An annular solar eclipse takes place on May 20th, 2012. It will be visible in the Western U.S. and Canada, Chinese coast,and south of Japan. Kanarraville, Utah is considered the perfect place to view the annular phase.
Wikipedia description of difference between a Total Solar Eclipse and an Annular solar Eclipse:
A solar eclipse occurs when the Moon passes between Earth and the Sun, thereby totally or partially obscuring the image of the Sun for a viewer on Earth. An annular solar eclipse occurs when the Moon’s apparent diameter is smaller than the Sun, causing the Sun to look like an annulus ring, blocking most of the Sun’s light. An annular eclipse appears as a partial eclipse over a region thousands of kilometres wide.
For more information about the eclipse go to the Photonaturalist posting: Get Ready For the Upcoming Annular Eclipse on May 20th
If you would like to watch the eclipse live on the internet you can go to Wired Science at: Watch Live: Annular Solar Eclipse Creates Ring of Fire | Wired Science | Wired.com (starting at 3Pm Pacific)