Twin pregnancy occurs when a woman carries two fetuses at the same time. There are two types of twins: monozygotic (identical) twins, which develop from the splitting of a single zygote, and dizygotic (fraternal) twins, which develop from two separate eggs fertilized by two separate sperm. Monozygotic twins share the same placenta and have identical DNA, while dizygotic twins have separate placentas and are no more genetically similar than normal siblings. The document further details the development and characteristics of both types of twins.