Graphic Format

PNG:

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The commonly used abbreviation in the computer world PNG stands for Portable Network Graphics. PNG is a Image File Format which is associated with (an)image/images. Saving a PNG is usually a pretty small file size and doesn't take up much space.

 For more info, please visit  - http://info.eps.surrey.ac.uk/FAQ/standards.html

11/7/12

GIF:

The abbreviation of GIF is Graphics Interchange Format. A GIF is suppose to help slower connections transfer images or an image. Graphic Interchange Format was developed in 1987. GIF is in an 8 bit format which means the maximum amount of colors supported by the format is 256.
For more info, please visit - http://info.eps.surrey.ac.uk/FAQ/standards.html

JPG:

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JPG or JPEG stands for Joint Photographic Experts Group. This means it is a standardised compression mechanism. JPG is designed to compress either full color which is 24 bit or grey-scale digital images of "natural" real world scenes. JPG works best for simple cartoons or on photographs.
For more info, please visit-  http://info.eps.surrey.ac.uk/FAQ/standards.html

TIFF: 

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TIFF is an acronym for Tagged Image File Format. TIFF is one of the most widely supported file formats used to store bit-mapped images on a personal computer.
 For more info, visit  - http://www.chacha.com/question/what-does-the-text-code-%27tiff%27-mean