The double acute accent is a diacritic mark of the Latin and Cyrillic scripts. It is used primarily in Hungarian or Chuvash, and consequently it is sometimes referred to by typographers as hungarumlaut. The signs formed with a regular umlaut are letters in their own right in the Hungarian alphabet—for instance, they are separate letters for the purpose of collation. Letters with the double acute, however, are considered variants of their equivalents with the umlaut, being thought of as having both an umlaut and an acute accent.
Example of an ő on a Faroese traffic sign
A diacritic is a glyph added to a letter or to a basic glyph. The term derives from the Ancient Greek διακριτικός, from διακρίνω. The word diacritic is a noun, though it is sometimes used in an attributive sense, whereas diacritical is only an adjective. Some diacritics, such as the acute ⟨á⟩, grave ⟨à⟩, and circumflex ⟨â⟩, are often called accents. Diacritics may appear above or below a letter or in some other position such as within the letter or between two letters.
Hangul, the Korean alphabet
German keyboard with umlaut letters
Blackboard used in class at Harvard shows students' efforts at placing the ü and acute accent diacritic used in Spanish orthography.