  Gravitational collapse is one of the most fruitful subjects in gravitational
physics. It is well known that singularity formation is inevitable in complete
gravitational collapse. It was conjectured that such a singularity should be
hidden by horizons if it is formed from generic initial data with physically
reasonable matter fields. Many possible counterexamples to this conjecture have
been proposed over the past three decades, although none of them has proved to
be sufficiently generic. In these examples, there appears a singularity that is
not hidden by horizons. This singularity is called a `naked singularity.' The
appearance of a naked singularity represents the formation of an observable
high-curvature, strong-gravity region. In this paper we review examples of
naked singularity formation and recent progress in research of observable
physical processes - gravitational radiation and quantum particle creation -
from a forming naked singularity.
