Nope, it's not the same. The 1/4 foot is usually used for quilting when you're piecing and want an accurate seam allowance. A Walking foot is usually separate and will cost you at least $20. Here's a link to a good photo of one I found on flickr:
http://www.flickr.com/photos/shunklies/2602221234/Most have the large white box looking thing in the back and will screw on to your foot holder. I found some great video on youtube for how to use one since mine didn't come with any instructions. I use mine all the time and highly recommend one.