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The Canon 100-400mm is an L-series super telephoto zoom lens equipped with an Image Stabilizer. This lens is light enough to use handheld, and the IS makes it possible to use it that way in good light. This lens is at its best when taking daytime photos of fast-moving moments that require you to stay at a distance, such as sports events or nature photography.
Compatible with Extenders 1.4x II and 2x II. You'll need a 1-series body to use autofocus with the 1.4X and you can usually forget about autofocusing with the 2X extender.
What the 100-400mm gains in versatility, it trades off in image resolution. For higher image quality (with less focal range), consider the Canon 70-200mm f/2.8L or the 400mm f/2.8L.