Video Post, available from the Rendering menu, lets you combine (composite) and render output of various types of events, including the current scene, bitmap images, image-processing functions, and so on.

A video post queue can include scene geometry, background images, effects, and masks for compositing them.

The result of video post: a composited frame
Video Post is a self-contained, modeless dialog, similar in appearance to Track View. The edit window of the dialog shows when each event occurs in the finished video. Each event is associated with a track that has a range bar.
The Video Post dialog contains the following window components:
Video Post Queue: Shows the sequence of post-production events.
Video Post Status Bar/View Controls: Shows information about the active Video Post controls and lets you control the display of tracks in the event tracks area.
Video Post Toolbar: Provides Video Post commands.