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Grünfeld Defense: Three Knights Variation is a chess opening that arises after 1.d4 Nf6 2.c4 g6 3.Nc3 d5 4.Nf3. It is classified D90 in the ECO system, and the position after these moves has black to move. The Grünfeld invites White to build a large pawn centre with cxd5 and e4, then attacks it immediately from the fianchettoed bishop and with c5. Where the King's Indian delays the counterstrike, the Grünfeld begins it at once.
This position can also be reached by another move order, including 1.d4 Nf6 2.c4 g6 3.Nc3 d5 4.Nf3 Bg7.
White gets a big centre and space; Black gets piece pressure aimed at it and a clear plan. If White's centre holds, White is usually much better; if Black dissolves it, Black's activity tells. There is little middle ground, which is what makes it sharp.
Players comfortable with dynamic positions where piece activity has to compensate for a spatial disadvantage.
This line is a variation within the Grünfeld Defense family. The strategic ideas above describe the family as a whole; this particular line reaches them by the move order 1.d4 Nf6 2.c4 g6 3.Nc3 d5 4.Nf3.
Each of these is a named opening reached by playing on from 1.d4 Nf6 2.c4 g6 3.Nc3 d5 4.Nf3. Open any of them to load the position on the board.