That'd be a face pull. And they're awesome, yep.
The biggest benefit of band pull-aparts is that, like Irish said, they can be pretty much anywhere anytime. I have a simple bungee cord in my garage, plus one by my desk, that I use for them. The accommodating resistance Beast talked about is a nice plus, especially if you're trying to rehab already-beat up shoulders and need to take it easier in the beginning ROM, but that's not generally a big selling point for this specific exercise.