An MFP can work both as a computer peripheral (using a computer port, like ethernet/WiFi-LAN, USB, FireWire, ...) and autonomously (with no need for the computer connection; for example, to copy, fax and so on).
Most MFPs are ink jet-based and thus allow colour printing and copying, but a small number of relatively expensive ones use a laser print engine for high-quality, low cost-per-page output.
Early models (in the 1990s) developed a poor reputation for compatibility and reliability, but have improved since. Some current MFPs cost less than the same as a good quality inkjet printer and a scanner, but cannot offer the same print quality, compatibility, and flexibility, and incur a higher cost of ownership (as a failure in any of the individual sub-systems requires that the entire unit be replaced). They do, however, take up less room than the equivalent separate components, can be used autonomously ( with the computer turned off) and are popular for that reason.
MFP manufacturers/brands include Canon, Dell, Epson, Hewlett-Packard, Lexmark, and Xerox.
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