IFO files are files that store DVD information. These files are commonly referred to as DVD Info Files because IFO files contain DVD scene and timing information.
The files with the .ifo extension let your computer and DVD player know which screen to show at start-up, where each chapter of the movie starts, where the audio tracks are located and where subtitles can be found. IFO files correlate to the .vfo files of a specific DVD.
The IFO files do not contain any video information in and of themselves. Instead, the IFO files reference the video data that is contained by the associated VFO file.
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