This summary made by Piet van Oostrum Apr 25 1995. All parameters except the Picture are optional. The picture can be positioned left or right, boxed with a rectangle, oval, shadowbox, dashed box, a caption can be given which includes it in the List of figures. It only makes a difference if the width and height given are bigger than the actual picture. If offsets are given Position is not used.
Picture can be any LaTeX construct.
By default the paragraph is indented until the end of the picture. It makes a figure caption.