How it works
The slider crank turns circular motion into linear or other motion through the use of linkages and constraints, and of course a crank. One sets the linkage within a specific constraint which might be fixed horizontal and vertical tracks or one sliding track, among other variations. When one turns the crank, the linkage slides within its constraints to create a completely new type of motion.
Variations
There have been many variations on the classing slider crank, including the double slider crank, the swinging slider crank and a slider crank with reduced centrodes, each shown below respectively.
Uses
The main reason I am interested in the slider crank is because I was surprised to find out all the relevant uses it has. One main advantage of turning circular motion into a type of linear motion is that it can serve as a piston. Pistons are used in most internal combustion engines to derive motion. Further, a slider crank with centrodes, as shown in the above middle photo, is used in the design of prosthetics for joint replacement. These are just some of the uses for such a simple yet effective mechanism such as the slider crank.
Personal thought
During my research of the slider crank, many descriptions were enthusiastic about its ability to trace ellipses. I don't see how this feature is particularly useful but I find it interesting nonetheless. In fact, Leonardo da Vinci designed a mechanism called the Ellipsograph which specifically traces ellipses.
All media from http://kmoddl.library.cornell.edu