Having a range of different kinds of float in your fly fishing tackle is always a good idea. In general they add weight to help in casting light bait. Some floats even called casting bubbles. Casting bubbles have a clip on each end to attach your main line and leader. You can even add a fly or very light bait to the end of your leader and cast with spinning or bait-casting equipment.
The concave faces at the end of some floats have a place to attach your main line and a tapered end at the other to attach the leader. You will find than when you pull the main line the float pops and gurgles in the water to attract fish. The noise is not unlike fish chasing baitfish on the surface. Often, these floats contain a lead weight to make them stand up and to aid in long distance casts. As with sinkers, choose the smallest float possible for the job. Don't try to suspend a cricket under a float the size of a tennis ball because it will make too much noise hitting the water and its size may frighten the fish. Either that or the fish will think Wimbledon has relocated to the river. But you will need a larger one to float a spreader rig across flats in bays when fishing for flounder.
Look out for more blogs on various pieces of fly fishing tackle.