My toddler loves standing on this to reach the sink and wash her hands and brush her teeth. She can move it to where she wants it (not always a good thing but good to get her tidying up after herself). She can also pull out the bottom step herself (although this is not all that smooth to pull out).
The wood is very nice and has a lovely smooth and silky finish. I use it to sit on when bathing the children, so all in all a useful item. Makes a change from all the multi-coloured plastic products that have taken over the house!
The cheap plastic one-step stool we bought elsewhere wasn't quite high enough, so this has been worth spending a bit more money on.