jQuery is a cross-platform JavaScript library designed to simplify client-side scripting of HTML, with a focus on ease of use and access to DOM elements. Since its release in 2006, it has become the most popular JavaScript library, offering features like animation, event handling, and AJAX support while being maintained by a dedicated team. Despite its advantages, such as better performance and a large library of plugins, it has some limitations in functionality depending on the level of customization required.