Crashreporter

Hello,
I have been using the application "what size", trying to make more room on my pc... I have found out about a folder named CrashReporter that is taking up 5gig in my HD. I go to my name then <Library then <Logs then CrashReporter. I have been looking into this, VLC and iPhoto have almost one gig of this. What is this application, can I delete it and my system will continuo working fine, this way I will be able to make another 5 gig available on my HD (that I desperately need),

Thanks!