The lymphatic system consists of lymph, lymphatic vessels, nodes, and associated organs, functioning in tissue drainage, fat absorption, and immune responses. Lymph, an isotonic fluid, circulates through capillaries and vessels, passing through lymph nodes that filter pathogens and proliferate lymphocytes. Key components include the thymus, which aids in T-lymphocyte maturation, and the spleen, which has roles in blood storage and immune response.