In Teams, you can set your status as well as a message that will be visible to others. This is great for letting people know when you are working on something and don't want to be interrupted.
You can also set a "timed status" that will automatically change after a certain amount of time. For example, if you are working on a project and expect it to take about an hour, you could set your status to "Working on project name" and then set the timer to 60 minutes. After an hour has passed, your status will automatically change back to what it was previously.