CFrame

A CFrame (Coordinate Frame) is a way of positioning parts. Unlike Position, you can use CFrames to rotate a part at different angles or make it intersect other parts.

You can position a part just like you would using the Position property.

part.CFrame = CFrame.new(Vector3.new(1, 6, 2)) - Places the part at point {1, 6, 2) in the workspace

It's also possible to rotate at any angle.

part.CFrame = CFrame.fromEulerAnglesXyz(math.radians(45), math.radians(90), math.radians(180))

For an explanation of the parameters, see radians.