Portable VLC media player is the popular VLC media player packaged as a portable app, so you can take your audio and video files along with everything you need to play them on the go. VLC (initially VideoLAN Client) is a highly portable multimedia player for various audio and video formats, including MPEG-1, MPEG-2, MPEG-4, DivX, MP3, and OGG, as well as for DVDs, VCDs, and various streaming protocols. It also can be used as a server for unicast or multicast streams in IPv4 or IPv6 on a high-bandwidth network. From PortableApps
Along with the improvements, VLC continues to offer robust support for a wide range of video and audio formats, including OGG, MP2, MP3, MP4, DivX, HD codecs like AES3, Raw Dirac, and even support for playing back zipped files.