You can avoid pasting long, unsightly web addresses all over your timeline, and instead neatly embed hyperlinks (URLs/website addresses) into your timeline item text.
Click on the timeline item you wish to edit.
Highlight the text that you want to become a hyperlink.
Click on the far right icon that looks like chain links, and click "Insert Link".
Paste in the URL that you want to use.
Click "Confirm" and then "Save" your changes to your timeline item.
Now your link is live!
Here's an easy tutorial to show you how this feature works:
Use cases for this may be if you want to link to a specific version of a song for the first dance. You type in the name of the song in your timeline item, insert a URL to the song, and you're done. Anyone with access to the timeline can now easily find the exact version of the song you want to use.
Other use cases include a link to a map for parking instructions, a type of centerpiece you want your florist to emulate, social media profiles for family members so they're easily recognized, and more.