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what is a floppy disc
A Floppy disc is a input device.
The floppy disc drive was invented at IBM in 1967. It used 8" floppy discs. The first floppy disc drive in an IBM personal computer appeared in 1981. By this time the original 8" floppy disc had been replace by a 5.25" disc.
A floppy disc
They do
Yes.
you can format
Yes, it takes longer to load from a floppy disk.
Given that you have a floppy disc drive then yes you can.
Although they're not used any more - that would be a floppy-disc