A third party refers to any political party outside the dominant two-party system, such as the Democrats and Republicans in the U.S. They can influence elections by introducing new ideas, impacting public discourse, and drawing votes away from major parties, potentially altering the outcome. Third parties often advocate for specific issues, such as environmental concerns or social justice, highlighting topics that mainstream parties may overlook. Although their impact can be limited, they can affect voting dynamics and sometimes lead to major parties adopting their policies to regain voters.