Just recently found out that there is an awesome plug-in for MonoDevelop, which allows for using TFS directly in MonoDevelop. Before I found this plug-in I was using Microsoft Team Explorer Everywhere (TEE), which provided a command line tool, where I could manually check out and check in files, which was quite tedious.
TeamAddins does things similarly to what TFS does in Visual Studio, where it automagically checks out files when editing them and so on.
This plug-in is really awesome if you use TFS in your development environment.
To use it simply fire up MonoDevelop, open up the MonoDevelop menu and choose Add-In Manager. Choose the Gallery tab, in the drop down menu choose Manage Repositories. In the new window press Add and fill out the URL with: http://www.teamaddins.com/monodevelop/3.0 Now refresh the repositories and a new item under Version Control called Team Foundatation Server Add-In should appear. Install this and you are ready to set up your workspace and TFS server connections.
Find more information on TeamAddins' web page.