When you clone a VM it creates a virtual machine that is an exact copy of the original VM. The new VM is configured exactly the same: same virtual hardware, same installed software and anything else.
You might want to clone a VM when you need to deploy several VMs that have the same software and configuration. By cloning a VM it saves you a ton of time!
Below are three videos that provide you with how to clone a VM in different type-2 hypervisors. There are two common ways of doing clones. It is important to understand these differences (they will show up again with type-1 hypervisors)
Full Clone: A completely independent copy of the virtual machine that has not sharing of resources with the parent (the one that the clone was created from).
Linked Clone: When you create a linked clone will share the virtual disk(s) with the parent (the one the clone was created from) after it has been created. A snapshot of the disk is taken and used.
A full clone will usually have better performance as it runs independently. A linked clone are able to be created quicker due to not having to duplicate the entire virtual drive. A linked clone also provides an advantage of saving disk space due to allowing multiple VMs to run off a single software installation!
Watch the videos below to see how to create a clone in a type-2 hypervisor.
Demo showing how to clone a VM using VirtualBox.
Demo showing how to clone a VM using VMware Fusion.
Demo showing how to clone a VM using VMware Workstation.
A linked clone must always have access to the parent disk. If access is no longer available the link clone won't be able to work. Each linked clone will also maintain a delta disk (thing of this as all the changes since the snapshot was taken that created the clone).
In my demo video I have implemented changes to the parent and linked clone. You can see that the changes are maintained even after a reboot of the VMs. This is due to the delta disk.