While the AD recycle bin was available in Windows 2008 R2, it had no GUI. In Windows Server 2012, we get an option for a recycle bin in the AD Administrative Center.
Once the recycle bin is enabled (and refreshed across your domain), ‘Deleted Objects’ will be visible. As an example, I deleted a user and now I can simply right click and restore it.
NOTE: Items in the recycle bin are still subject to ‘tombstone lifetime’.