The Raspberry Pi is a credit-card sized computer that can perform many desktop tasks like spreadsheets and word processing. It was created by the Raspberry Pi Foundation to improve computer science education. For only $25-35, it provides an affordable way for students to learn programming through a full computer with HD video output, USB ports, and Linux OS support. The Raspberry Pi uses a Broadcom system-on-chip and runs software like Python to make computing concepts accessible. It has found applications in areas like robotics, home automation, and digital signage.