The cooling system regulates the engine's temperature by allowing it to reach operating temperature quickly and maintaining temperature while preventing overheating. It consists of a radiator, coolant, water pump, thermostat and other components. The thermostat controls coolant flow and allows it to bypass the radiator until reaching operating temperature. It then directs coolant through the radiator to maintain temperature. If temperature rises too high, it directs all coolant through the radiator to cool the engine.