What are blood thinners?

The name "blood thinners" invites a guess about what the medicine does to blood already in the body. This page checks that guess against the wording of the source.
The answer first
medlineplus.gov states, "Blood thinners are medicines that prevent blood clots from forming. They do not break up clots that you already have." Two points separate this definition from the common assumption: the medicine acts on clots that have not formed yet, and it does not break up one that has.
Where the clot side is explained
To see what the medicine is set against, read the deep vein thrombosis overview and the MedlinePlus Medical Encyclopedia entry on blood clots. The treatment framing for venous clots is on the NHLBI treatment page for venous thromboembolism.
The follow-up to ask next
A medicine that works ahead of a clot rather than on an existing one prompts a safety question: how should it be taken? This site answers that on a separate page.