Skinning Flash Components
Flash Components are used when and where Flash is applied. Flash has good amount of components for many purposes varying from buttons to datagrids.
To make these components look even nicer according to your needs and theme, you can skin and style these components.
Skinning is basically changing the look of the component. From Flash CS3, its became even easier to change the skins of the components.
Free Flash Components
Flash Components are some third-party components that can be added onto your Flash as add-ons or extensions and make use of them. You can install these components using Adobe Extension Manager.
Now-a-days we can get many many rich Flash Components for free.
FlashScope has release some nice and useful Flash Components, which are absolutely free. Take a look at them, you wont regret. They are really useful.