Log piles are a great way of storing wood. Log piles are also used when creating charcoal pits.
To create a log pile, shift-right-click on the ground while holding a log. You can then continue right-clicking with logs until you've filled the pile (up to 16 per pile). Alternatively, you can switch to an empty slot in your hot bar and open the pile's interface by right-clicking. Each pile can hold 4 stacks of 4 logs, but each individual stack must be of the same log type.
A log pile must be full before an additional log pile can be created on top of it.