Nov 13, 2008
If you’re still confused about choosing image formats, this slightly exaggerated comic should clear it for you once and for all.
George adds - "JPEGs are for photographs and realistic images. PNGs
are for line art, text-heavy images, and images with few colors. GIFs
are just fail."
xkcd uses PNG for their web comics while Hugh MacLeod prefer JPG format for his cartoons. Also note that the image illustration above is a PNG image.