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Templates work a lot like an Envelope with the exception that they can be saved and shared with other DocuSign users. The benefit of a Templates is it allows you to create a workflow and mock-up documents that can then be used over and over. This allows you to simplify and streamline the process by which forms are filled out, routed and signed. The Template consists of all the parts of an Envelope with the addition of being able to save and share the document as a DocuSign Template.
DocuSign Support Link of an Overview of Templates.
DocuSign Support Link for Creating Templates.
DocuSign Support Link for Editing Templates.