How to show the Library folder on Mac OSX Lion

To temporarily reveal the ~/Library folder you need to do the following;

• Open Finder and on the menu bar, at the top, select Go to reveal the drop-down menu.
• Hold down the Option key (marked ALT) and you will see the ~/Library folder appear.
• You may now select this ~/Library folder with your mouse or trackpad.
• As soon as you release the Option key, the ~/Library folder will be hidden once more.