Fats and oils are triglycerides composed of fatty acid units linked to glycerol. They provide energy, insulate organs, and transport fat-soluble vitamins. Sources include animals, plants, and marine organisms. Fats are solid at room temperature due to higher saturation and carbon number, while oils remain liquid due to greater unsaturation. Properties include being insoluble in water but soluble in organic solvents, and being poor conductors of heat and electricity. Common examples are butter, ghee, olive oil, peanut oil, and coconut oil.