Printer pooling is a standard feature of Windows NT, 2000, XP, Vista and Windows 7 that allows a group of printers to share the same name and function as if they were one printer.
All the printers in the printer pool must be able to share the same driver, so they need to be the same model. The printers are usually located physically next to each other so the end user knows where to pick up his print job. In the enterprise, printer pools are often used in dedicated print rooms.
Brian Posey explains how to create a network printer pool
Micrsoft TechNet provides directions for how to create a printer pool.