Now heres a damned handy plugin.
A featured image usually appears quite large sized across the tops of posts and in sliders. They are also the default image all shares to social media use. It’s handy to hot link an image from Flickr or Photobucket for your featured image due to bandwidth and storage size of large photos if you host your own website. WordPress however does not give you that option.
This plugin does. It gives you a little widget on your add / edit post page where you can paste in an url from anywhere for your featured image.
The only downside is your theme needs to be able to handle them well. In my case I have dicked about with the CSS so much, I get a giant block across the screen when I try to set a featured image heh.
I imagine some of you lot must have a use for this though!