The Raspberry Pi is an affordable, credit-card sized computer that plugs into a TV or monitor and uses a standard keyboard and mouse. It was developed by the Raspberry Pi Foundation, a UK charity, to provide a fun and inexpensive platform for experimenting with programming and electronics. The Raspberry Pi runs Linux and supports programming in Python and other languages. It has various applications like learning programming, playing music/video, running web servers, and creating supercomputers or specialized devices like a voice-activated coffee machine. Future developments may include a tablet version or new screen technologies.