Gould's Belt is a ring of luminous B-type stars tilted by about 20 degrees with respect to the galactic plane at the location of the sun, and roughly centered on the sun's position in the Milky Way. We don't really know how it was formed, but the massive stars it contains out to the distance of the Orion Nebula are only a few 10s of million of years old, so it is a relatively young 'structure'.