This chart offers some dubious suggestions, even ignoring the "Burn it with fire" bit. Unfortunately, it doesn't explain any of its reasoning. A photograph that's not real big is probably still better suited for JPG. And there's no reason to use GIF for any still image - PNG will be superior in all situations. A moving image may be better off as an MP4 for modern browsers in terms of file size and quality, but there'…
> there's no reason to use GIF for any still image - PNG will be superior in all situations For small icons with few colors, I find GIFs to be consistently smaller than PNGs. For example, my website's favicon: http://alexvh.me/favicon.gif 216 bytes http://alexvh.me/favicon.png 1041 bytes
On the other hand, if you are loading enough small PNGs for this to make a difference, perhaps any performance issues that come up might be helped by switching from PNG to GIF.