DTrace is a comprehensive dynamic tracing framework created by Sun Microsystems for troubleshooting kernel and application problems on production systems in real time. It provides probes in the operating system and applications to monitor events, collects and aggregates data, and provides tools to analyze the data. DTrace can be used on Unix-like systems like Solaris, Linux, macOS, and in Node.js applications through a DTrace provider. It allows gathering insights about the system and application behavior without restarting or slowing the system.