Here is a div with no padding and a navy border.
The mouse cursor will change to a wait cursor here (pointer with rotating circle).
Here is a div with padding and a pink dotted border
The mouse cursor will change to a text cursor here.
Some possible cursor settings:
default  - the normal cursor for a given situation
crosshair  - a crosshair/plus sign
help  - black arrow with small ?
move  - an open hand
pointer  - hand with finger pointing 
progress  - seems the same as wait
text  - text selection cursor
wait  - seems the same as progress

e-resize  - resize cursor pointing right
n-resize  - resize cursor pointing up
ne-resize  - resize cursor pointing diagonally up and right
nw-resize  - resize cursor pointing diagonally up and left
s-resize  - resize cursor pointing down
se-resize  - resize cursor pointing diagonally down and right
sw-resize  - resize cursor pointing diagonally down and left
w-resize  - resize cursor pointing left