Splat expressions let you take a list of resources and get a list of one attribute from each. For example, if you create multiple AWS instances, you can get all their IDs in one list using aws_instance.example[*].id. This works because the splat expression applies the attribute extraction to each item in the list. The execution steps show creating instances, applying the splat, and outputting the list of IDs. Variables track the list of instances and their IDs as they change. Key points include that splat expressions only work on lists and that all objects must have the attribute. The quizzes check understanding of what the splat returns, when instances are created, and how changing count affects the output list.