YUI is a JavaScript and CSS library designed for creating rich web applications, open-sourced under the BSD license and developed by the Yahoo! YUI team along with global contributors. It provides utilities for DOM manipulation, event handling, and enhanced effects like transitions and drag-and-drop, accommodating developers' needs to avoid browser compatibility issues. YUI is widely adopted by numerous organizations, including major tech companies, and includes features like YQL, which allows querying web services directly within applications.