{} when initialising arraylist java

ArrayList<Type> list = new ArrayList<Type>(Arrays.asList(
		elem1, elem2,..., elemN
        ));

import java.util.*;
public class InitializationExample1 {
   public static void main(String args[]) {
	   ArrayList<String> obj = new ArrayList<String>(
		Arrays.asList("Pratap", "Peter", "Harsh"));
	  System.out.println("Elements are:"+obj);
   }
}

ArrayList<Type> obj = new ArrayList<Type>(
        Arrays.asList(Object o1, Object o2, Object o3, ....so on));

List<String> strings = Arrays.asList("foo", "bar", "baz");