MPEG is a common video compression technique that identifies key frames stored as JPEG images and compares subsequent frames to store only the differences, achieving high compression. AVI can contain video compressed with different codecs and supports maximums of 30 fps and 320x240 resolution. MPEG and inter-frame compression look at previous frames to store differences, while intra-frame compression treats each frame individually like a JPEG. Animated GIFs display a series of frames with settings for delay, transparency, and looping.