In meteorology, precipitation is any product of the condensation of atmospheric water vapor that falls under gravity. The main forms of precipitation include drizzle, rain, sleet, snow, graupel and hail. Precipitation occurs when a portion of the atmosphere becomes saturated with water vapor, so that the water condenses and "precipitates". Thus, fog and mist are not precipitation but suspensions, because the water vapor does not condense sufficiently to precipitate. Two processes, possibly acting together, can lead to air becoming saturated: cooling the air or adding water vapor to the air. Precipitation forms as smaller droplets coalesce via collision with other rain drops or ice crystals within a cloud. Short, intense periods of rain in scattered locations are called "showers."

More Info: en.wikipedia.org