Modern Signal and Power Integrity (SI/PI) verification flows rely on accurate models for complex I/O-buffers that drive and receive electrical signals on high-speed channels. The sheer density of modern integrated circuits makes detailed transistor-level descriptions computationally cumbersome to the point where they become unusable for system-level simulations. Fortunately, transistor-level descriptions may be replaced with more compact representations that approximate the input/output buffers behavior with considerable accuracy while providing a simulation speedup of several orders of magnitude. Known as behavioral models, surrogate models or macromodels, these computationally efficient equivalents have become a de-facto industry standard in SI/PI simulations. This paper presents an overview of the state-of-the-art in I/O-buffer behavioral modeling, introducing the main features of both standard and emerging solutions. Open issues and future research directions are also discussed.