This has been added as of C# 6.0 (Visual Studio 2015+).
Example:
var planetName = "Bob";
var myName = "Ford";
var formattedStr = $"Hello planet {planetName}, my name is {myName}!";
// formattedStr should be "Hello planet Bob, my name is Ford!"
This is syntactic sugar for:
var formattedStr = String.Format("Hello planet {0}, my name is {1}!", planetName, myName);
Additional Resources: