Obstructive jaundice is characterized by yellowish discoloration of the skin and mucous membranes due to excess bilirubin, caused by various underlying conditions such as biliary obstruction, hepatitis, or hemolysis. The document discusses bilirubin metabolism, classifications of jaundice, differential diagnoses, and the etiologies of obstructive jaundice, including common causes like gallstones and pancreatic carcinoma. It also highlights the importance of recognizing jaundice in relation to liver function and surgical treatment options.