π is the ratio of a circle's circumference to its diameter. It has been studied since ancient times, with Archimedes proving it lies between 22/7 and 223/71. The first use of the Greek letter π to represent this ratio was by mathematician William Jones. Ramanujan later published innovative formulae for calculating π. Pi Day is now celebrated on March 14th to honor the date 3/14, with events like eating pie and wearing pi-themed clothing.