ABSTRACT We present new ultraviolet, optical, and X-ray data on the Phoenix galaxy cluster (SPT-CLJ2344-4243). Deep optical imaging reveals previously undetected filaments of star formation, extending to radii of ∼50-100 kpc in multiple directions. Combined UV-optical spectroscopy of the central galaxy reveals a massive (2 × 109 M ), young (∼4.5 Myr) population of stars, consistent with a time-averaged star formation rate of 610 50 M yr−1. We report a strong detection of O vi λλ1032,1038, which appears to originate primarily in shock-heated gas, but may contain a substantial contribution (>1000 M yr−1) from the cooling intracluster medium (ICM). We confirm the presence of deep X-ray cavities in the inner ∼10 kpc, which are among the most extreme examples of radio-mode feedback detected to date, implying jet powers of 2-7 × 1045 erg s−1. We provide evidence that the active galactic nucleus inflating these cavities may have only recently transitioned from "quasar-mode" to "radio-mode," and may currently be insufficient to completely offset cooling. A model-subtracted residual X-ray image reveals evidence for prior episodes of strong radio-mode feedback at radii of ∼100 kpc, with extended "ghost" cavities indicating a prior epoch of feedback roughly 100 Myr ago. This residual image also exhibits significant asymmetry in the inner ∼200 kpc (0.15R500), reminiscent of infalling cool clouds, either due to minor mergers or fragmentation of the cooling ICM. Taken together, these data reveal a rapidly evolving cool core which is rich with structure (both spatially and in temperature), is subject to a variety of highly energetic processes, and yet is cooling rapidly and forming stars along thin, narrow filaments.