The Image Preview on Icon Hover plugin enhances the Obsidian user experience by allowing users to assign custom image previews to various interface icons. Users can configure images for icons such as the vault switcher, settings, help, sidebar toggles, ribbon bar, and status bar. The plugin provides interactive management options, enabling users to add, remove, and customize icons with ease. Image paths can be set using relative links from the vault, ensuring seamless integration. This tool offers a visually enriched UI experience by adding dynamic image previews to key interface elements.