The web can be up to two feet across and in the center of the web, the spider will hang, head down, waiting for prey. Often, she holds her legs together in pairs so that it looks like an X. They typical take down their web and rebuild it each night.
To learn about orb weaver spiders see:
http://animaldiversity.ummz.umich.edu/site/accounts/information/Argiope_aurantia.html
To read a previous post about orb weaver reproduction see:
http://katalystdesigns.blogspot.com/2007/03/waiting-patiently.html