LESS CSS is a dynamic stylesheet language that extends CSS by adding features like variables, mixins, operations, and functions. It allows CSS stylesheets to be more modular and reusable by adding parametric mixins, nesting rules, and importing files. Key features include using variables to store colors and values, defining mixins to group repeated CSS declarations, performing mathematical operations on values, and modifying colors with functions. LESS files are compiled into regular CSS files for browsers to use.