This is more to elaborate on BalusC answer in case of mis-understanding, so please up-vote his, ya?
the 'given array' is an array of jQuery elements.
$('.willReturnManyObjects').last()
will give you a jQuery object that's the last element found with that class name / selector.
This is the same as calling .eq(-1);
:last is to get the last item in the selector, but could be used to get many elements:
$('input:last, .extraDiv');
this would give you the LAST input and any .extraDiv elements.
Cool, eh?
edit: looks like BalusC edited his answer to be a bit more understandable while i was typing this :p