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In this video tutorial, the presenter explains what an autofill list is in Excel, how to create a new autofill list for use across different worksheets, and how to edit a custom autofill list. An autofill list, also known as an autocomplete list, allows users to quickly fill in cells by typing any word from the list and dragging to complete it. For instance, typing "January" enables the user to click the bottom right corner of the cell (which changes shape) and drag to auto-fill the remaining months of the year, with a preview illustrating the months as the cursor is moved.