An emulsion is a colloid comprised of two or more heterogeneous types of liquids in which one of the liquids holds the dispersion of the dissimilar form of liquids.
Oil and Water Emulsion

Emulsions primarily comprise a dispersion of two liquids that are unmixable altogether. One of the liquids functions as the dispersion medium, while the other might function as the distributed stage.
Emulsions as Colloids of Liquids
Hence, emulsions are colloids in which both the distributed stage and dispersion medium are liquids. When oil and a blend of water are stirred simultaneously, the oil forms a blob and is subsequently scattered all over the water.
Functionality and Benefits of Emulsion
Emulsions are functional since they permit a method to convey active materials in water that is bargainous and harmless. An associated benefit of emulsions is that they permit dilution of this active constituent to an optimal concentration.
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