The spin ice compounds {\dys} and {\holm} are highly unusual magnets which epitomize a set of concepts of great interest in modern condensed matter physics: their low-energy physics exhibits an emergent gauge field and their excitations are magnetic monopoles which arise from the fractionalization of the microscopic magnetic spin degrees of freedom. In this review, we provide an elementary introduction to these concepts and we survey the thermodynamics, statics and dynamics---in and out of equilibrium---of spin ice from these vantage points. Along the way, we touch on topics such as emergent Coulomb plasmas, observable "Dirac strings", and irrational charges. We close with the outlook for these unique materials.