Unlike the rather large internal changes from version 1 to 2, version 3 was built on top of the existing technology of OS/2 Version 2.x.
Originally, the plan for "OS/2 Version 3" was to use a new kernel being written by Microsoft, dubbed "NT". Obviously that never happened.
Instead of simply referring to this version as "Version 3", it was named "OS/2 Warp".

Installing OS/2 Warp 3.

The desktop is similar to OS/2 Version 2.x, except for the addition of the LaunchPad.

The LaunchPad has multiple "drawers" that contain "objects". Clicking on the button pops up the contents of that drawer. This is very similar to the Unix CDE desktop, and kind of like "stacks" in MacOS X.

Keep in mind this was released in 1994, back before everyone wanted a Task Bar.

The shredder works the same as that of 2.x, you drag icons to it, but it now it resides on the LaunchPad.
Another button on the LaunchPad by default launches a help tutorial.
 

The launch pad can be moved and closed. An icon underneath can be used to start it again.