The most straightforward would be opening URLs in various places. Sure, org-mode has something like this built-in and there's the Embark package that even has the embark-dwim command which saves you a keystroke basically, but I still prefer Hyperbole for this bit and it doesn't interfere with Embark either. Same goes for file and folder paths.

There's also more fine grained stuff like opening specific commits on GitHub for example. E.g. throw a gh#rswgnu/hyperbole/5ae3550 and when you M-RET on that "button" it automagically opens it in your browser.

You can insert "buttons" with labels on the fly in a buffer interactively by going through a menu like {C-h h i c} and specifying a label, its type and so on from a list of previously defined button types with their own properties. Those buttons in turn can call any command with preset arguments.

I can go to a file or hunk from the Magit status buffer by pressing the aforementioned Action button (binded to M-RET or a side mouse button too in my case).

I barely scratched the surface really.