Is it possible create/configure MySQL for functionality like SQL Server's Linked Server?
If yes, would you please tell me how? I'm using MySQL 5.5.
MySQL's FEDERATED engine provides functionality similar to SQL Server's Linked Server (and Oracle's dblink) functionality, but doesn't support connecting to vendors other than MySQL. It's not clear from the question if you need the functionality to connect to vendors other than MySQL.
You might want to look into MySQL Proxy. This doesn't match the architecture of Linked Servers/dblink, but you can probably solve a similar set of problems that you would use Linked Servers/dblink to solve.