Microsoft Silverlight is a cross-browser plugin that allows developers to build rich interactive applications and media experiences for the web. Key features include vector graphics, media playback, animation, and integration with existing web pages. Silverlight uses XAML for markup and a .NET subset for programming. It provides a sandboxed runtime environment and supports common development scenarios like media, rich content, and rich internet applications. Developers can use XAML to build user interfaces with shapes, brushes, text and images, and add interactivity through transforms and animation.