Arachnoid granulations, also known as arachnoid villi, are small protrusions of the arachnoid mater into the dural venous sinuses of the brain. They play a crucial role in the cerebrospinal fluid (CSF) system by facilitating the transfer of CSF from the subarachnoid space into the venous system. This process is essential for maintaining the balance and pressure of CSF around the brain and spinal cord.