An emulsion consists of

An emulsion is a specific sub-class of colloids characterized by the dispersion of microscopic droplets of one liquid into another liquid. Unlike general colloids, which can involve combinations of solids, liquids, or gases, an emulsion strictly consists of two or more immiscible liquid phases [1]. In this system, one liquid acts as the continuous medium while the other is the dispersed phase. Common examples include milk, which is a mixture of water and milk fat, and mayonnaise, which combines oil and water stabilized by emulsifiers. Because these liquids are naturally insoluble in each other, they often require mechanical force or chemical stabilizers (emulsifying agents) to maintain a stable, uniform appearance. Therefore, the fundamental definition of an emulsion is a mixture of two liquids [1].

Sources

1. [1] https://www.ncbi.nlm.nih.gov/books/NBK559084/