As another user pointed out though, it's not quite that simple. After reading up some more, I think this is a better analogy:

You have 2 magic entangled coins. Each coin has a heads and a tails side.

If you both look at heads first, entanglement guarantees they will show the same US president. If you both look at tails first, entanglement guarantees they will show the same US building. However, and this is where it gets weird, if your friend looks at tails first, and you look at heads first, then your respective coin presidents and buildings will be random.

As you can see, this does not allow you to communicate with your friend faster than light. However, if you send a message to your friend using entangled coins, he can check if an eavesdropper intercepted your message by first looking to see that every coin has the same president on it. If some coins have a different president, it means that an eavesdropper intercepted your coins and looked at tails first somewhere along the way. This relies on you and you friend agreeing ahead of time that you should always look at heads first.