The limbic system is a set of brain structures located in the midbrain and temporal lobes that are involved in emotion, behavior, motivation, learning, and memory. It includes structures like the hypothalamus, hippocampus, amygdala, septum, and limbic cortex. These structures work together and interact with other parts of the brain to control functions like pleasure and punishment, emotional responses, learning and memory formation. The limbic system plays an important role in regulating behaviors, emotions, and the formation of memories.