Lipids, also known as fats, are a diverse group of organic compounds consisting of carbon, hydrogen, and oxygen that serve important functions in the body. There are three main types of lipids: fats, phospholipids, and cholesterol. Fats can be saturated or unsaturated, with saturated fats found in animal products and unsaturated fats in plants having health benefits. Phospholipids are involved in lipid transport and cell structure. Cholesterol is essential for cell membranes and is found in foods like eggs and meat. Lipids provide energy storage and production, help regulate systems, aid in nutrient transport, and give structure to cells.