In IP-based computer networks, Virtual Routing and Forwarding (VRF) is a technology that allows multiple instances of a routing table to co-exist within the same router at the same time. Because the routing instances are independent, the same or overlapping IP addresses can be used without conflicting with each other.
Alternative meaning of VRF is a VPN Routing and Forwarding, the key element in the Cisco MPLS VPN technology. A VRF is a routing table instance, that can exist in one instance or multiple instances per each VPN on a Provider Edge (PE) router.
VRF may be implemented in a network device by distinct routing tables known as forwarding information bases (FIBs), one per VRF. Alternatively, a network device may have the ability to configure different virtual routers, where each one has its own FIB that is not accessible to any other virtual router instance on the same device.
Read more about Virtual Routing And Forwarding: Simple Implementation, Full Implementation
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