Final answer:
Interstitial fluid is located in the extracellular fluid between the cells. It provides nutrients to cells, facilitates intercellular communication, and aids in removing waste.
Step-by-step explanation:
Interstitial fluid, also known as tissue fluid or intercellular fluid, is located in the extracellular fluid (ECF) between the cells. It bathes and surrounds the cells of multicellular animals, providing nutrients to the cells, facilitating intercellular communication, and removing waste. Interstitial fluid is similar to blood plasma and there is free exchange of materials between them through the capillaries.