This is one of the very popular question on Java interviews, and despite its popularity, chances of candidate answering this question satisfactory is only 50%. Half of the time, they failed to write code for double checked locking and half of the time they failed how it was broken and fixed on Java 1.5. This is actually an old way of creating thread-safe singleton, which tries to optimize performance by only locking when Singleton instance is created first time, but because of complexity and the fact it was broken for JDK 1.4, I personally don't like it. Anyway, even if you not prefer this approach its good to know from interview point of view.
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