The irb Command
From Metasploit Unleashed - Mastering The Framework
Running the 'irb' command will drop you into a live Ruby interpreter shell where you can issue commands and create Metasploit scripts on the fly. This feature is also very useful for understanding the internals of the Framework.
msf > irb [*] Starting IRB shell... >> puts "Hello, metasploit!" Hello, metasploit! => nil >> Framework::Version => "3.8.0-dev" >> framework.modules.keys.length =>1336