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Linux is a UNIX-like open source operating system with hundreds of distinct distributions, including: Fedora, openSUSE, Ubuntu, Debian, Slackware, Gentoo, CentOS, and Arch Linux. Linux is generally associated with web and database servers, but has become popular in many niche industries and applications.
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Under Linux, bonding is usually done for multiple IP addresses upon one NIC.
NIC teaming is using multiple NICs to do things like load balancing, high availability/fault tolerance, etc.
References:
http://en.wikipedia.org/wiki/Link_aggregation
http://www.howtoforge.com/nic_bonding