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Originally Posted by Lokai

Property:

Properties are the bits and pieces that describe the basic parts of a class. Properties have a datatype, a variable name, and a value. They can also have an accessibility defined. If not specified, the accessibility is Private. It can also be Public, or Protected. Properties are defined, and usually initialized in the beginning of the definition of a class, and serve to create a "description" of the class. For example:

 
private int Size = 4;
int Color = 302;
string Name = "TestClass";

Fields: Fields (C# Programming Guide)

Properties: Properties (C# Programming Guide)