The PassMonkey is the precursor to the RenderMonkey that is currently in development. This allows you to set your scene based off of your selection sets and your saved render presets. Has controls for environment background maps - toggling atmospherics and effects as well.
When creating selection sets - include a camera and your active viewport will be changed to that view - the obects will be hidden/unhidden - the lights turned on/off - and the renderpreset will be set. It's a quick way to set up your passes for GI - Ambient Occlusion - Reflections - Etc...