Flanging is an audio effect produced by mixing two identical signals together, with one signal delayed by a small and gradually changing period, usually smaller than 20 milliseconds. This produces a swept comb filter effect: peaks and notches are produced in the resultant frequency spectrum, related to each other in a linear harmonic series. Varying the time delay causes these to sweep up and down the frequency spectrum. A flanger is an effects unit dedicated to creating this sound effect.
Part of the output signal is usually fed back to the input (a “re-circulating delay line”), producing a resonance effect which further enhances the intensity of the peaks and troughs. The phase of the fed-back signal is sometimes inverted, producing another variation on the flanging sound.
A phaser is an audio signal processing technique used to filter a signal by creating a series of peaks and troughs in the frequency spectrum. The position of the peaks and troughs is typically modulated so that they vary over time, creating a sweeping effect. For this purpose, phasers usually include a low-frequency oscillator.