I love this question! The shoulder joint is a synovial ball-and-socket joint. The head of the humerus fits into the glenoid cavity of the scapula, giving a very interesting joint.
The shoulder joint allows for a lot of mobility. Think on a quarterback throwing a football! The rather shallow head of the humerus and glenoid cavity (I often wonder if it should be called fossa rather than cavity) allow for a whole range of motion. So you can reach and scratch your back, pitch a baseball, hung from a tree limb!
On the other hand, this joint is not as stable as lets say the hip joint, with a large femur head and a deep acetabulum. You don't have the range of movement in your hip that you have in your shoulder, but it is very stable. On the other hand, your shoulder joint is mostly held together by ligaments. That's why when you see your team's quarterback fall on his throwing shoulder you hold your breath and hope that he can keep on playing!