1.12 is not out as of yet. There is no release date planned.
1.12, the first release of the World of Color Update.
There will be new crafting system, new function system, hints for beginners, glazed terracotta, concrete, colored beds, illusioners, and parrots. It replaces achievements with advancements.
How will this affect my servers/servers I play on?
You will need to update your servers to 1.12. Servers you play on may close so they can update to 1.12 and update mods/plug-ins to work on 1.12.
I want 1.12 now. Can I get it?
They have a snapshot for 1.12 located in Launch Options on the Minecraft Launcher. Turn on Enable Snapshots. Be careful as snapshots can corrupt worlds and Minecraft files.
Minecraftygirl is NOT responsible or can be held responsible for corrupted worlds or files if you choose to turn on Enable Snapshots. Save a file of your worlds before turning on snapshots.
Will my mods update to work on 1.12?
MOST mods will work fine with 1.12. Some may add updates a few days-weeks after an update. If so, you will need to update them manually.