Colloidal particles act in many ways like surfactant molecules, particularly if adsorbed to a fluid–fluid interface. Just as the water or oil-liking tendency of a surfactant is quantified in terms of the hydrophile–lipophile balance (HLB) number, so can that of a spherical particle be described in terms of its wettability via contact angle. Important differences exist, however, between the two types of surface-active material, due in part to the fact that particles are strongly held at interfaces. This review attempts to correlate the behaviour observed in systems containing either particles or surfactant molecules in the areas of adsorption to interfaces, partitioning between phases and solid-stabilised emulsions and foams.