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Description: GIF means "Graphics Interchange Format - Picture Format" So now you know - GIF means "Graphics Interchange Format - Picture Format" - don't thank us. YW! What does GIF mean? GIF is an acronym, abbreviation or slang word that is explained above where the GIF definition is given. GIF, or Graphic Interchange Format, is a file extension for an often animated raster graphics file and is the second most common image format used on the World Wide Web after JPEG. GIF uses the LZW compression algorithm and is owned by Unisys.