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Fabric.js is a JavaScript library that provides an interactive object model for HTML5 canvas elements. It offers features like SVG import/export, on-canvas text editing with rich styling, customizable WebGL and Canvas2d filters, animation support with tweening/easing, clipping regions, interactive controls for transformations, object grouping, zoom/pan capabilities, and a caching system for performance. Written in TypeScript, it enables developers to work with complex graphics and interactive canvas applications.