Step 1: Definition.
Transition elements are d-block elements that have partially filled d-orbitals in their ground state or in one of their oxidation states.
Step 2: Characteristics.
Some important characteristics of transition elements are:
\begin{enumerate}
\item
Variable oxidation states: Transition metals commonly exhibit more than one oxidation state (e.g., Fe$^{2+}$ and Fe$^{3+}$).
\item
Formation of coloured compounds: Due to d–d electronic transitions, many transition metal salts and complexes are coloured.
\item
Catalytic properties: They act as good catalysts because of variable oxidation states and ability to provide active sites (e.g., V$_2$O$_5$ in contact process).
\item
Formation of complex compounds: Transition metals form coordination complexes with ligands due to availability of vacant d-orbitals (e.g., [Fe(CN)$_6$]$^{3-}$).
\end{enumerate}
Conclusion:
Thus, transition elements show variable oxidation states, coloured ions, catalytic activity, and complex formation as their main characteristics.