I am aware of Guake (Gnome), Yakuake (KDE) and so on, but this post is about using drop-down grid terminals using Terminator. Read on!
We covered Terminator 0.90 a while back so I won't introduce it again. The great news is that you can now install Terminator 0.90 beta 2 via a PPA:
Use Terminator: Terminator is a nice way to free your valuable screen space from multiple terminal windows. Instead of using one terminal window for each task, divide an existing window horizontally or vertically each time you need a new terminal window. So if you find yourself using 8 terminal windows, you can use Terminator and pack your terminals into 2 windows.