Null Objects are commonly represented by a small white dot in the middle of the screen that is often difficult to see and select. In R8, a few things have been added improving the Null Objects.
Step 1: Create a Null Object. (Object=>Null Object or Array Icon=>Null Object)
Step 2: In the Attributes Manager, you will see you have control over the Null's shape and orientation. You can make the Null Object any of the additional shapes, including Stars and Diamonds. Select the shape you'd like to use.
Step 3: Change the Orientation you'd like the Null Object to be viewed along. When in Camera setting, the shape will be viewed on the screen no matter what angle you're viewing from.
Step 4: Change the Radius in the Attributes Manager so it's visible. If you want, you can change the Aspect Ratio, which stretches the shape along the Y axis in Camera, XY, and ZY setting, and along the Z axis in XZ setting.
Step 5: If you want to make it more distinguishable, give it a color by looking at the Basic Properties of the Attributes Manager and changing the Use Color to Always. Click Display Color and change the color.
Character animation rigs often contain goals and effectors, which are various constrained and targeted null objects and such. Setting a shape to Null Objects makes it easier to see and select them when animating.