Select Similar automatically selects all items that are “similar” to the current selection. In general, this means that the objects must be on the same layer, and have the same material (or no material) applied. The specific functionality depends on the objects’ source:
Selects all items imported in the DWG format in the selected object's or objects' layer that have the same style(s) or categories as defined in AutoCAD Architecture (formerly known as ADT, or Architectural Desktop), or the same families and types as defined in Revit. For example, if you've imported or linked to a DWG file that contains walls in several different styles, such as CMU-8, Concrete-8, and Stud-4, you could select all CMU-8 wall segments in the same layer by selecting one and then invoking Select Similar.
If you start by selecting multiple objects with different styles, Select Similar will select all objects with those styles.
This command also applies to objects native to 3ds Max. It selects all objects of the same type. This includes primitives and editable object types. For example, if you add some boxes and cylinders, select one of the cylinders, and then invoke Select Similar, all of the cylinders will be selected, but not the boxes. If you then convert all of the objects to Editable Poly format and repeat the test, all of the objects will be selected. If you then apply a material to one of the objects or move it to a different layer, it’s no longer “similar” to the rest and won’t be selected by Select Similar.