Canary Releases involve exposing a small portion of users to a new version to detect issues before a full rollout.Pros of Canary Releases include reduced risk, real-world feedback, faster rollbacks, and gradual performance monitoring.Cons of Canary Releases include complexity in traffic routing, monitoring overhead, and state and data consistency issues.Implementing a Canary Release can be done using Spring Boot and Spring Cloud Gateway, as demonstrated in the provided example.