The Java Media Framework (JMF) allows integration of advanced media formats like video and audio into Java applications. It provides a timing mechanism to synchronize playback of different media streams. Creating a media player involves getting a URL for the media file, creating a player object, prefetching the media to reduce latency, adding the player's visual component to the application, and starting playback. The player goes through states like unrealized, realizing, prefetched, and started. Controls can be added by getting the player's control panel component. The media time and playback rate can be set. JMF supports popular formats and access protocols and uses events and design patterns.