A list is a sequential data structure that allows additions and removals at any position, unlike a stack or queue. Common list operations include adding and removing nodes, updating node contents, checking if the list is empty/full, and initializing/destroying the list. Lists can be implemented using arrays (for static storage) or linked nodes (for dynamic storage). Array lists allow constant-time access but linear-time insertion/removal. Linked lists have linear-time access but constant-time insertion/removal. Both use iterators to traverse the list during operations like accessing, adding, removing, and finding nodes.