How do you work the coupon? ex. "We accept competitors coupons."

This is featured at every McDonald's drive-thru and I'm not quite sure what it means. Do they do a quarter-pounder for a whopper deal? What about the breakfast sandwiches!? And free stuff. I know there are supermarkets and other joints that have the same deal, and I'm wondering if any of you all have taken advantage of these offers and how it turned out. I eat McDs about twice a month, kids meal style (don't judge!), and can always use a few extra bucks. How do you work the deal?

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