Malmö, situated in the province of Skåne, is the third most populous city in Sweden. Home to over 600,000 residents (in the metropolitan area), the city is known as an old industrial center with a current focus on culture. According to history books, the city dates back as far as the 13th century.
Malmö is served by its own airport (Sturup) and there is also an airport in nearby Copenhagen (Kastrup) which is also a common point of entry. You can also reach the city by various trains and buses, if you're coming from Stockholm or Copenhagen, for example. There is also a ferry service connecting Malmö to Travemundë in Germany.
The hostels in Malmö are a good value and your basic dorm room is priced at about 15-20 euros per night. Utilize the bike hire option if the hostel has one, or rent one from a company that offers it, because it's the easiest and fastest way to get around the city. The prices are reasonable too.
Things to see when you visit a Malmö hostel include the three squares (Gustav Adolf's Square, Big Square, and Little Square), among others. The castle in the old city is very nice, and there are also museums like the Technology and Maritime Museum, and nice parks to spend some time in. Also remember to try out the local delicacy, "pepparkakor", which are essentially flavoured pepper cookies.
All in all, it is easy to spend a few days in a Malmö hostel traveling around the city seeing the sights and enjoying the atmosphere.