Icon groups provide a convenient way to organize and configure icons, allowing users to apply them individually or in groups on record or non-record pages. With options to select icons from 'Custom Metadata', 'Custom Settings', 'Static', and 'Conditional' sources, users can easily customize their visuals. In the case of 'Conditional', users can create specific conditions and assign corresponding icons, with a default icon available if conditions are not met, ensuring dynamic and flexible icon usage.