The support library provides support for older Android versions by backporting new features and components. It includes libraries for app compatibility, fragments, cardview, recyclerview and more. The support library works by including shims that check the Android version and use the native implementation where available, or a support version as needed. It is important to use consistent support library versions and follow best practices around configuration, versioning and compatibility. The support library continues to be updated regularly with new features, bug fixes and improvements to support developers.