Ok, i'm fairly new this game and to MMO's in general, i came across this Rytlock miniature in my inventory and i was wondering if this little guys deos anything?..he just sorta..follows me around looking all involved and stuff, does he actually fight or am i not getting something?..
Minipets are collectibles in Guild Wars 2. Nothing more. The mini indeed does nothing but follow you. If you want to get rid of him to make space in your inventory, just rightclick on him and deposit collectible. He'll go into your special minipet tab in your bank.
Indeed as Vayne said minitures are there just to show off. I believe however rytlock is from either limited or collector's edition so it shows off that you spent more for the game than most other people