Dispersed phase and dispersion medium are the two components of a colloidal solution. The rest of the statements are incorrect as:
(1) Combination of all the three phases, i.e. solids, liquids and gases, is not necessary to form a colloid.
(2) The solute-like component or the dispersed particles in a colloid form the dispersed phase.
(3) A colloid does not settle down when left undisturbed, i.e. a colloid is quite stable.