Electrical excitability is a fundamental property of the neuromuscular systems of metazoans. The varied response of neurons to electrical excitation is largely accounted for by a diverse set of voltage-gated potassium (K-V) channels in the excitable membrane. The complete structure of a K-V channel is not yet available. However, recent structural biological experiments have begun to provide new insight into how specific K-V channels are formed and regulated, and how they function and interact with other proteins. In particular, the selectivity of K-V channels for K+ and suggestions as to how these structural elements might assemble into a functional K-V channel are discussed.