A multiphasic liquid is a mixture consisting of more than two immiscible liquid phases. Biphasic mixtures consisting of two immiscible phases are very common and usually consist of an organic solvent and an aqueous phase ("oil and water").
Multiphasic liquids can be used for selective liquid–liquid extractions or for decorative purposes, e.g. in cosmetics.
While it is possible to get multilayered phases by layering nonpolar and aqueous phases of decreasing densities on top of each other, these phases will not separate after mixing like true multiphasic liquids.