It´s one of many spanish / french style squares in the city. It is surrounded by buildings from the late 19 century buildings. There are benches to sit, and is normally full of locals during lunchtime. It´s the only square in several blocks, so locals and neighbours appreciate it.
It´s in the middle of the financial and historic district of Montevideo. If you have been walking the area, it´s an oasis for your tired feet. Right in front of the square there is an old house from mid 19 century that is now a museum.
Watch the monument in the middle. Don´t forget to feed the doves.