Amniotic fluid is a protective liquid in the amniotic sac that safeguards the fetus, allows movement, prevents limb contracture, and facilitates lung development. The volume of amniotic fluid changes throughout pregnancy, increasing until about 38 weeks and then decreasing post-term. Conditions such as oligohydramnios (low fluid) and polyhydramnios (excess fluid) are associated with various complications and require specific monitoring and treatment strategies.