It's part of the OpenJDK/Oracle VM implementation, not an official part of the Java standard library. It allows for all sorts of fun stuff like native compare and swap operations (used for concurrent collections iirc), object allocation without calling the constructor, accessing blocks of memory directly without object references, and other things. The reason it's called unsafe is because it allows developers to bypass a lot of the safety guarantees that java is supposed to provide as a memory managed language. But it's useful for getting more performance out of the VM.

There's currently an effort underway to push through a variety of Java enhancement proposals that would add a lot of the unsafe functionality to the official standard library. This would enshrine the unsafe functionality as official, remove access to some of the more dangerous and less useful parts of unsafe, and would also mean that the functionality would be properly documented, which it is currently not.