Xamarin is a cross-platform development environment that allows developers to build native iOS, Android, and Windows apps using C#. It provides tools for building apps using a shared codebase, including integration with Visual Studio, Xamarin Studio, and support for platforms through components. Some key capabilities include building fully native UIs, using platform-specific APIs, and leveraging tools like the component store, NuGet packages, and designers to improve productivity. It also offers monitoring tools like Xamarin Insights to help debug apps.