Static electricity refers to the buildup of electric charge on objects and can cause sparks when charges are neutralized. The triboelectric effect occurs when electrons are exchanged between materials in contact and causes one material to become positively charged and the other negatively charged. This separation of charges can cause effects like hair standing up or materials clinging together. Various methods are used to remove or prevent static buildup due to its ability to damage electronics or cause fires and explosions in industrial settings under certain conditions.